China Expands Digital Yuan Usage for Cross-border Trade
China is increasing the use cases for its CBDC, known as digital yuan or e-CNY for its Belt and Road program and cross-border trading. One of the initial CBDCs that was created and extensively tested was the digital yuan, often known as the digital RMB. Despite the lack of a formal launch, the government has […]
Hong Kong’s ZA Bank to reportedly offer crypto services
According to reports, ZA Bank, Hong Kong’s largest virtual bank by assets, will offer crypto account services and facilitate crypto-to-fiat exchanges. According to a report published by Bloomberg on April 12, the bank will function as a settlement bank to enable token deposits at licensed exchanges to be withdrawn in Hong Kong dollars, Chinese yuan, and […]
China will modernize its national blockchain standards in 2025
The government in China hopes to improve industry development standards by actively pursuing breakthroughs in the blockchain sector. Notwithstanding the nation’s position on cryptocurrencies, Chinese officials have been actively growing their fintech industry, with a heavy concentration on blockchain technology. The Chinese fintech industry’s watchdog, the Ministry of Industry and Information Technology , declared on […]
Hong Kong crypto companies notice interest from Chinese banks
Chinese state-owned banks have reportedly proven to surprise supporters of cryptocurrency companies by setting up shops in Hong Kong. Chinese state-owned banks have reportedly proven to be surprise supporters for cryptocurrency companies setting up shop in Hong Kong ahead of the implementation of a new licensing regime for cryptocurrency exchanges in June. Bloomberg reported on […]
China launches National Blockchain Technology Innovation Center
The National Blockchain Technology Innovation Center in Beijing, China will help encourage more blockchain adoption and also speed up the country’s industry through engagement inblockchain technology. The Center will establish a research network with the local colleges, think tanks, and blockchain firms to carry out investigations into fundamental blockchain technologies, according to a story from […]