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Yuan
Major payments app WeChat to add support for China’s digital yuan
WeChat, China's largest messaging app and one of the country's most popular payment services, will start supporting the Chinese government's digital currency.On Jan. 6, 2021, Tencent announced that it will begin accepting digital yuan payments via its proprietary mobile wallet WeChat Pay, according to a local news report. China has been developing a digital yuan since 2014, and … [Read more...] about Major payments app WeChat to add support for China’s digital yuan
China’s central bank releases pilot version of digital yuan wallet
As China's central bank steps up its effort to create a digital currency, the country has released a pilot edition of its digital yuan wallet application on mobile phone app stores.The People's Bank of China (PBOC) digital currency research institute developed the "e-CNY (Pilot Version)" app, which was available for download on Chinese Android and Apple app stores on Tuesday in … [Read more...] about China’s central bank releases pilot version of digital yuan wallet
China, Hong Kong Enter Second Phase of Cross-Border Digital Yuan Trials: Report
China and Hong Kong are in the second phase of testing cross-border transactions using central bank digital currencies (CBDCs), Mu Changchun, director of the Digital Currency Institute of the People’s Bank of China, said Thursday, according to Shanghai Securities News. Source link … [Read more...] about China, Hong Kong Enter Second Phase of Cross-Border Digital Yuan Trials: Report
Chinese Local Government Warns of Digital Yuan Fraud
The use of CBDC to commit fraud undercuts the narrative that digital currencies issued by nation states will be a better, less-prone-to-fraud alternative to crypto. That this is happening in security-conscious China, which has severely cracked down on crypto is bound to engender a certain about of schadenfreude amongst crypto advocates. Source link … [Read more...] about Chinese Local Government Warns of Digital Yuan Fraud