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The bond was auctioned off to holders of the digital yuan, a central bank digital currency (CBDC) developed by the Chinese government. Hua Xia Bank, a publicly traded financial institution linked to China’s government, issued 4.5 billion yuan ($600 million) in tokenized bonds on Wednesday, aiming to reduce clearing friction by removing intermediaries from the…
JD.com and Ant Group are reportedly lobbying Chinese regulators to launch yuan-based stablecoins to boost the currency’s global role and counter US dollar-pegged tokens. China’s e-commerce heavyweight JD.com and Ant Group, the fintech arm of Alibaba, are lobbying the People’s Bank of China (PBOC) to greenlight Chinese yuan-based stablecoins to counter the global rise of…
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, Elon Musk’s X platform is eyeing a 2025 launch for its financial services arm. In South Korea, the top financial regulator will probe fees…
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, China’s central bank is establishing an international operations center to broaden the global reach of its digital yuan. In Iran, crypto exchange Nobitex was…
Bitcoin may punish bulls if China ups the stakes in the ongoing trade war with the US, QCP Capital warns as markets await a response to tariff hikes. Bitcoin (BTC) risks becoming part of a “classic bull trap” when the US-China trade war takes its next step, analysis warns. In its latest bulletin to Telegram…
” CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair “ The United States should lead the development of Central Bank Digital Currencies (CBDCs) away from being “surveillance coins” and towards being “freedom coins,” says the former chair of the Commodity Futures Trading Commission (CFTC). In a Mar. 13 op-ed in The…
” WeChat integrates digital yuan into its payment platform “ WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan. WeChat now supports the fast payment…
” China doles out millions in digital yuan in bid to boost adoption: Report “ Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup. According to a Feb. 6 report in the Global…
” Chinese Communist Party officials issue KPIs for e-CNY transactions in Suzhou “ According to local news outlet JS China, on Feb. 1, an annual meeting regarding the trial of the digital yuan central bank digital currency (e-CNY CBDC) was attended by senior Communist Party officials in the City of Suzhou. As part of the…
” China’s Hainan to boost NFT oversight as digital yuan trial ramps “ Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. In a separate announcement, the People’s…