Digital Yuan Criminals Cashed Out: Gang Sentenced for Money Laundering Scheme
The arrested gang members were able to cash out more than 200,000 yuan in Shaoxing by targeting merchants who accepted e-CNY payments.
HSBC Offers e-CNY Services, Integrating Digital Yuan for Corporate Clients
By
Bena Ilyas
HSBC Bank announced that corporate clients can now link their bank accounts directly with digital yuan accounts.
Hong Kong Advances Retail e-HKD Testing for Mortgage and Lending Transactions
The next phase will involve a deeper study of the technology, business plans, and laws needed for using e-HKD for transactions.
Hong Kong Launches Pilot Program for Digital Yuan Payments
To set up their digital yuan wallets, Hong Kong residents just need their local phone numbers. Hong Kong is currently conducting this pilot program for e-CNY within the Greater Bay Area.
Hong Kong to Expand Chinese Digital Yuan Testing, Launching Its Own CBDC
By
Tokoni Uti
Hong Kong is currently pursuing an expansion of the digital yuan’s application. It is also approaching the second phase of its own CBDC pilot program and completing consultations for stablecoin issuance.
Standard Chartered Becomes First International Bank to Participate in Digital RMB Business Pilot
China has rolled out its digital RMB interconnection platform with Standard Chartered Bank that is expected to use it in streamlining cross-border payments and other services.
Digital Yuan Completes Its First Cross-Border Oil Deal
By
Darya Rudz
The transaction is part of SHPGX’s efforts to provide a solid response to the Shanghai municipal government’s requirements to use the digital yuan in cross-border trade.
China Launches Its First Industrial Park for Digital Yuan CBDC Development
By
Darya Rudz
Currently, there are nine residents of the park. All of them will get access to ten government initiatives introduced to “boost the development” of the digital yuan ecosystem. The initiatives include payment solutions, smart contracts, hard wallets, and digital yuan promotion.
China’s Digital Yuan Wallet Enables Visa and Mastercard ‘Pre-Charge’ for Tourists
Tourists have the option of re-loading their e-CNY wallets with physical cash at local banks and reverting any balance left over to their original bank card or account.
PBoC Governor Claims Digital Yuan Transaction Volume Touched $250B
China’s central bank governor said that 950 million transactions made from around 120 million wallets since the e-CNY was first introduced in January 2022.
Singapore Bank DBS Launches Merchant Platform Enabling e-CNY Collection
The merchant program ensures automated settlement of e-CNY into businesses’ DBS bank accounts.
Hong Kong Banks to Decide on CBDC Outlook
The central bank of Hong Kong has charged other banks to come up with what they think the CBDC should look like.
WeChat Incorporates Digital Yuan Payment Functionality to Bolster Appeal
By
Tolu Ajiboye
Chinese super app WeChat is the second multipurpose social media platform in the country, after Alipay, to integrate digital yuan payments.
China Launches Blockchain Research Center to Expedite National Adoption Trends
By
Tolu Ajiboye
The government in China is planning a specialized blockchain research center in Beijing to aid the country’s digitization agenda.
China Distributes CBDC during Lunar New Year Holidays to Enhance Adoption
Apart from the Lunar New Year activities, the Chinese government has been taking steps to improve the use of its CBDC.