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The 26 institutions are Chinese bank branches located in Brazil, Qatar, Thailand, Hong Kong, and Macau, plus China’s branch of Standard Chartered, and will join PBOC’s Cross-border e-CNY Transfer Services…
Mbridge, now under Chinese leadership, would be preparing a commercial rollout with a Hong Kong-based entity to promote the blockchain-based digital yuan as a cheaper and easier alternative to SWIFT.…
China has doubled down on its hardline crypto stance, issuing a fresh multi-agency directive that tightens enforcement and explicitly bans unauthorized overseas token issuance and yuan-linked stablecoins, Bloomberg reported on…
According to a Reuters report citing data compiled by the Atlantic Council, a Washington-based think tank that tracks central bank digital currencies ( CBDCs) and their expansion, China’s CBDC, known…
While conversations about ending the CBDC-enabled international settlements project have focused on its links to BRICS, Mbridge has already reached the MVP stage, and members could choose to continue it…
A Fellow at the Carnegie Russia Eurasia Center and former adviser at the Central Bank of Russia has weighed in on the digital ruble, Russia’s central bank digital currency (CBDC),…
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank…
The People’s Bank of China and the National Bank of Kazakhstan have signed an agreement to collaborate on central bank digital currencies (CBDCs). This collaboration agreement, formalized during President Xi…
Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its…
In Zhejiang province, China, a criminal gang exploited digital yuan accounts to illegally cash out over 200,000 yuan ($27,566) within four days. The digital yuan, or e-CNY, is the People’s…