Hong Kong to Kickstart New Web3 and Digital Yuan Initiatives This Year
The city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul…
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Digital Yuan app adds prepaid Mastercard VISA top-ups for tourists
The Digital Yuan app now allows tourists to top-up e-CNY wallets with Mastercard & VISA payment with 'recharge first and use later' option.
China’s Wechat Adds Support for Digital Yuan Payments
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage…
China’s Digital Yuan Little Used, Former Central Bank Official Says
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat…
Former Chinese central banker says digital yuan ‘usage has been low’
A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.”
Report: Chinese Company Launches Digital Currency Insurance Product
The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch…
Bank of Japan to Launch Digital Yen Pilot Program Next Year
The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional…
Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as…
Fed Governor Waller Skeptical of Central Bank Digital Currencies — Says He’s ‘Not a Big Fan’ of the Fed Issuing Digital Dollar
Federal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,”…
Hong Kong Presents Digital Currency Prototype, Project Aurum
Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and…