China Opens Industrial Park for Digital Yuan CBDC Development
In the Jiangsu province of Nanjing, China has opened its first industrial park devoted to creating and utilizing the digital yuan, or e-CNY. The park, which has a 10 square kilometer footprint, seeks to draw over 100 businesses and organizations involved in the blockchain, big data, artificial intelligence, cloud computing, and financial technology sectors. The […]
China Introduces Digital Yuan to Chinese Business Air Travel
Upon launching the pilot program for China’s central bank digital currency (CBDC), the digital yuan, Chinese business travelers will purportedly be able to purchase airline tickets with the new digital currency. China’s civil aviation news agency reported that a collaboration between China Merchants Bank, a commercial bank, and the Civil Aviation Administration resulted in the […]
Chinese Digital Yuan Records $250 Billion in Transactions
China’s digital yuan has witnessed tremendous growth as the central bank ramps up its CBDC pilot in the last one-and-a-half year. The central bank digital currency (CBDC) of the nation, which had seen transactions amounting to 1.8 trillion yuan by the end of June, was discussed at the conference held in Singapore on July 19 […]
Jinan City Embraces CBDC Payments
Jinan, the capital of Shandong Province in eastern China, has begun promoting the adoption of the country’s central bank digital currency (CBDC) by implementing digital yuan payments on all of its bus routes. The city implemented CBDC payments on two bus lines during the demonstration phase. Following the trial period, the city announced that the […]
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 […]