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Experts from an economic institute in China have circulated the idea of creating a blockchain-powered digital currency that could lower Asia’s reliance on the greenback. The initiative comes against the…
Spending with China’s state-issued digital currency has surpassed 100 billion yuan, close to $14 billion, by the end of August, the country’s monetary authority revealed. More than 5 million merchants…
The proposed distributed ledger technology-backed “Asian yuan” token would supposedly help reduce Asia’s dependence on the U.S. dollar for international business.
The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong.
Rumors of expanding war, massive inflation destroying people’s purchasing power, and widespread volatility in the world of fiat currencies shaped the news this past week, with similarly dynamic developments in…
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were…
Russia intends to use its digital ruble, to be introduced early next year, for payments with its key ally, China. Authorities in Moscow hope other nations will be willing to…
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part.
Law enforcement agents from Hengyang (a city in the southern Chinese province Hunan) have reportedly busted a criminal group that employed cryptocurrencies to launder 40 billion yuan (approximately $5.6 billion).…
Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year.