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PayPal enters digital payments market in China with GoPay acquisition

News | Online Payments | 01 Oct 2019

The state-owned People’s Bank of China (PBOC) has greenlighted PayPal’s acquisition of a majority stake in local company GoPay.

PayPal, Peoples Bank of China, PBOC, acquisition, GoPay, digital payments, China

Binance research: Chinas digital currency could be two-tiered, replacing cash in circulation

News | Cryptocurrencies | 30 Aug 2019

Cryptocurrency exchange Binance has released a research that reveals China’s digital currency will most likely be a two-tiered system replacing notes and coins in circulation.

Binance, banks, cryptocurrency exchange, digital currency, retail banks, China, Peoples Bank of China, PBOC

Peoples Bank of China to issue fintech development plan

News | Payments General | 23 Aug 2019

China’s central bank has announced it will devise a three-year development plan to support the fintech industry and curb risks.

Peoples Bank of China, fintech, fintech development plan, fintech industry, China, Asia, APAC, cross-market financial risk

PBOC official says Chinas sovereign digital currency is almost ready

News | Cryptocurrencies | 13 Aug 2019

China’s central bank has announced that it is ‘almost ready’ to issue the country’s own sovereign digital currency, according to Reuters.

sovereign digital currency, digital currency, currency, China, innovation, blockchain, Peoples Bank of China, central bank

Chinas central bank DLT trade finance platform processes USD 4.5 bln

News | E-invoicing, SCF & E-procurement | 08 Jul 2019

People’s Bank of China’s blockchain trade finance platform has announced it has processed USD 4.5 billion in foreign exchange transactions.

Peoples Bank of China, China, Asia, APAC, trade finance, blockchain trade finance, trade finance platform, distributed ledger technology, cross-border financing

Chinas mobile payments continue their fast growth path

News | Payments General | 08 Jul 2019

China`s mobile payments have continued their rapid growth in the first quarter of 2019, according to data from the People`s Bank of China.

China, mobile payments, Peoples Bank of China, central bank

HKMA, PBOC team up on cross-border mobile payments and other financial services

News | Payments General | 20 Feb 2019

The HKMA and PBOC have reportedly decided to work together on the introduction of cross-border mobile payments and other financial services.

Hong Kong Monetary Authority, HKMA, Peoples Bank of China, PBOC, cross-border payments, digital wallets, mobile payments