Articles with tag: yuan

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China tests its CBDC in Shenzen

20 Oct 2020 | Online Payments

China’s USD 1.5 million digital Yuan giveaway has completed successfully, with winners spending around 88% of the total prize pool.

CBDC, digital Yuan, China, digital currency, electronic payment, PBoC

China's CBDC will be distributed in Shenzhen as part of public trials

12 Oct 2020 | Cryptocurrencies

The Chinese city of Shenzhen has announced plans to distribute over 10 million yuan in China’s upcoming digital currency as part of public trials.

Digital Currency Electronic Payment, wallets, digital yuan, merchants, trials, payments digitalisation, DCEP, CBDC, China,

After soft launch of digital yuan wallet, Chinese bank disables the app

31 Aug 2020 | Cryptocurrencies

China Construction Bank (CCB) had opened a wallet service for China’s central bank digital currency to public users, however it has disabled it after the feature gained widespread attention.

DCEP, digital yuan, central bank digital currency, China, China Construction Bank, innovation, mobile wallet, mobile app

Major Chinese cities announce testing of Central Bank Digital Currency

21 Aug 2020 | Cryptocurrencies

Chinese Central Bank Digital Currency (CBDC) will soon be tested in ‘Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region’ according to China’s Ministry of Commerce.

Central Bank Digital Currency, CBDC, China, digital yuan, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, digital wallet app, accounts, money, payments, money transfer

China's virtual Yuan DCEP System to be released in Hong Kong

14 Aug 2020 | Online & Mobile Banking

China’s virtual yuan (CBDC), also referred to as digital currency electronic payment (DCEP) has been announced for testing in Hong Kong’s Greater Bay Area in August 2020.

China, Hong Kong, virtual yuan, DCEP System, CBDC, Greater Bay Area, digital currency, digital currency electronic payment, Guangzhou, Shenzhen, Macau, financial centre, financial infrastructure, Guangdong, South China, international adoption, virtual banking system

China to take on Bitcoin, Facebook's Libra, and the US dollar with digital currency scheme

18 Jun 2020 | Cryptocurrencies

An influential group in China has revealed plans for an East Asia digital currency scheme that could see a basket of currencies combined to take on Bitcoin, Facebook's Libra, and even the US dollar.

central bank digital currency, China, dollar, trade war, Bitcoin, cross border payments, digitalisation, yuan, Libra

The digital yuan takes a great leap forward, China's Central Bank says

13 Jan 2020 | Cryptocurrencies

According to the People’s Bank of China, the nation’s central bank, the development of a digital yuan (DECP) is making progress.

People’s Bank of China, cryptocurrency, digital currency, digital yuan, China, payments

HSBC processes first blockchain letter of credit using CNY with Voltron

03 Sep 2019 | E-invoicing, SCF & E-procurement

HSBC has completed the first yuan-denominated blockchain-based letter of credit transaction within the Voltron trade finance platform.

HSBC, Voltron, blockchain, China, yuan, CNY, letter of credit, trade finance, trade finance platform, letter of credit transaction, BNP Paribas, Standard Chartered

Paysend reveals Pays XDR stablecoin solution for global payments

18 Jun 2019 | Cryptocurrencies

Paysend has announced the launch of a new solution for global payments, which leverage the transparency of blockchain technology and a well-established global network.

Paysend, launch, global payments, stablecoin, Stellar, cryptocurrency, Pays XDR, UK, blockchain, fintech, payments, currency volatility, commerce, Visa, PayPal, merchants, dollar, euro, yen, yuan, pound