Digital yuan

Despite the Chinese government’s push for the adoption of the digital yuan, many workers are still hesitant to use it for their daily transactions. What Happened: Sammy Lin, an account manager at a state-owned bank in Suzhou, receives her monthly salary in digital yuan. However, she, like...

Standard Chartered ADR (OTCMKTS: SCBFY) Bank (China) announced it initiated the offering of digital yuan exchange services to customers. What Happened: The multinational bank’s China division is working with City Bank Clearing Services to give customers access to the digital yuan's...

Central Bank Digital Currencies (CBDCs) will epitomize the anti-crypto movement unless they are designed with ingrained security measures protecting users' privacy, Elusiv co-founder Julian Deschler said on Monday, amid sparked fervent discussions about their potential...

The Royal Bank of Canada (RBC) has released a report on the evolving landscape of central bank digital currencies (CBDCs), that underscores the increasing global shift towards electronic payments as traditional cash usage wanes. This trend has prompted numerous governments to consider introducing...

By the close of this decade, as many as 15 central bank digital currencies (CBDCs) might be operational worldwide, according to a survey conducted by the Bank for International Settlements (BIS). The Switzerland-based institution, which is under the ownership of 63 central banks accounting...

iPhone and Android phone users in China can download an app to use the digital yuan from the respective marketplaces run by Apple Inc (NASDAQ: AAPL) and Google parent Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG). What Happened: The e-CNY app was previously available for download through private...

Chinese employees can now be paid in the country's central bank digital currency (CBDC) in the Xiong’an New Area. What Happened: According to a report published Saturday on the official website of the Xiong’an New Area, the People’s Banck of China already...