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Yuan
A former governor of China’s central bank believes the digital yuan won’t upset the order of the global monetary system. According to a report by the South China Morning Post on Sunday, Zhou Xiaochuan told attendees at the Shanghai Financial Forum that China’s digital currency electronic payment (DCEP) initiative shouldn’t be perceived as “great power...
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The digital yuan, China’s planned national virtual currency, would account for 15% of total consumption payments in ten years, helping commercial banks gain more ground from fintech companies, according to a Nov. 17 Goldman Sachs report shared with CoinDesk. The Digital Currency Electronic Payment (DC/EP) could be a more attractive alternative to existing digital payment...
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The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday. Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said. Financial services in remote areas have been bolstered by...
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A major bank quietly opened up a wallet service for China’s central bank digital currency to public users – but quickly disabled it after the feature gained widespread attention. Around noon on Saturday local time, users of China Construction Bank (CCB), one of the big-four state-owned commercial banks, started to notice that a central bank digital...
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