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 […]
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 […]
DBS enables e-CNY Payments for Businesses In China
DBS Bank has launched an e-CNY merchant collection solution for its corporate clients in China, enabling them to receive payments in the country’s digital currency. The bank has also completed its first e-CNY transaction for a catering company in Shenzhen. DBS Bank, one of the leading banks in Singapore and Asia, has announced that it […]
The city of Shenzhen airdrops 30M digital yuan to citizens
According to reports, the city of Shenzhen would provide 30 million digital Chinese yuan (e-CNY) to local citizens in an effort to boost consumer spending. The airdrop is a collaboration between Shenzhen and Meituan Dianping, China’s most popular meal delivery service. According to the guidelines, users must first log in to the Meituan app, sign […]