Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China.
Coinbase and cryptocurrencies viewed cynically on Chinese social media, and news of a large mining GPU smuggling bust in Hong Kong.
With years of public investment and plenty of penetration for its phone makers, China is well placed to establish a digital currency in Africa.
A CBDC is a central bank digital currency, a new type of money governments are experimenting with that often has blockchain at its core.
Central bank digital currencies can have broad implications for the global balance of power, experts say.
Goldman Sachs predicts China’s digital yuan will attract 1 billion users within a decade, helping China’s commercial banks compete with fintech companies.
The promotion is part of China’s efforts to try out out and stimulate usage of its new digital currency.
China Construction Bank had quietly opened up the wallet service of China’s digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.
The food and beverage giants are among the restaurants and retail shops reportedly on a local government list for testing of China’s central bank digital currency.
The Agricultural Bank of China has rolled out an internal test interface for the nation’s central bank digital currency, allowing whitelisted users to register and trialing certain functions.