China’s Digital Yuan Crosses $1 Trillion Transactions, Topping USDC & USDT
China’s Digital Yuan has grown rapidly, with transaction volumes exceeding $1 trillion, beating the combined activity of USDC and USDT. China’s Digital Yuan has seen significant growth, with transaction volumes exceeding $1 trillion, surpassing the combined activity of stablecoins like USDC and USDT. This milestone comes after over a decade of development and four years […]
Hong Kong Set to Trail Digital Currency for Mortgage Pricing
Hong Kong is about to launch a second trial of retail e-HKD for mortgage distribution and pricing. According to the South China Morning Post, the Hong Kong Monetary Authority (HKMA) is getting ready to start a new round of testing for its virtual currency, e-HKD. The HKMA intends to test e-HKD this time around with […]
Bank of China Completes First Precious Metal Digital Yuan Settlement
The Shanghai branch of the Bank of China has completed the first settlement of precious metals using the digital yuan. The South China Morning Post claims that the Bank of China, a commercial bank based in Beijing, has completed the first cross-border settlement for trade in precious metals using digital yuan. This means that the […]
Chinese Digital Yuan Debut Usage in Cross-border Oil Deal
Chinese digital yuan CBDC has been used to trade in an oil transaction for the first time as PetroChina International purchased one million barrels of petroleum using it, as reported by the Shanghai Petroleum and Natural Gas Exchange (SHPGX). According to the exchange, the transaction was a response to a request by the Shanghai Municipal […]
Tencent Launches Digital Yuan Smart Contract Services
Tencent, the owner of WeChat, has announced the opening of a new platform for digital yuan smart contracts for business credit solutions. The new platform intends to provide small and medium-sized businesses with a finance option that is more practical and effective. The project will employ the digital yuan as a payment method for businesses […]