Digital Currency


JD.com to accept digital yuan in Chinese e-commerce first 

JD.com to accept digital yuan in Chinese e-commerce first 

(ATF) Chinese e-commerce company JD.com Inc said it would become the country's first online shopping platform to accept the People's Bank of China's digital currency.Electronics retailer Five Star Electric, JD Home, and JD Convenience Store - all units of JD.com - would support payments through the digital yuan, the online …

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Answers to rampant rumours about the digital yuan

Answers to rampant rumours about the digital yuan

(ATF) Speculation about China’s digital yuan has been rife all year. At present, the digital yuan is being tested in Shenzhen, Suzhou and other places, but to most of the country's 1.4 billion people it is still a mystery.In the China Financial Stability Report (2020) released on November 6, the …

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China gets new bank note. But why?

China gets new bank note. But why?

(ATF) China has released a new five-yuan banknote. But as the central banks rolls out its digital currency, and electronic payment technologies such as Alipay and WePay account for a growing number of transactions, many wonder about the purpose of the new bill.The paper note was unveiled on November 5. …

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Many central banks looking at digital currencies

Central banks develop digital currencies 

(ATF) The coronavirus has accelerated the world’s move away from cash. Now central banks are considering developing digital versions of the notes and coins in our wallets. Sweden and mainland China could well launch CBDCs – central bank digital currencies – during 2021.These are not cryptocurrencies or units used in …

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The digital yuan/RMB is securing a seat at the table

The digital yuan/RMB is securing a seat at the table

(ATF) Last week, the People’s Bank of China 'airdropped' via lottery 10 million digital yuan or renminbi (eCNY or eRMB) to 50,000 residents in Luohu district in Shenzhen. Each resident received 200 eCNY (about US$30) into a digital wallet on their phones. This money could be spent at a range …

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Fed's Powell: More important for US to get digital currency right than be first

Fed's Powell: More important for US to get digital currency right than be first

In any development of a cross-border digital currency, it is more important for the United States "to get it right than be first," Federal Reserve Chair Jerome Powell said on Monday."We do think it's more important to get it right than to be first and getting it right means that …

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China digital yuan gift not enough to win over consumers

China digital yuan gift not enough to win over consumers

SHENZHEN/HONG KONG/SHANGHAI - China's experimental $1.5 million giveaway of digital yuan to Shenzhen citizens ended on Sunday with acclaim from currency analysts - and scepticism from some users saying they preferred existing shopping tools like the ubiquitous Alipay app.Under the week-long programme, the People's Bank of China (PBOC) gave 200 …

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Bank of Japan official downplays fears over China's digital currency

Bank of Japan official downplays fears over China's digital currency

TOKYO: No single digital currency will dominate global transactions if central banks strive to enhance their own settlement systems, a senior Bank of Japan official said, brushing aside fears China's rapid progress on a digital yuan could upend markets.China, which has been ahead of other major economies in experimenting on …

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Kuroda says BOJ has no immediate plan to issue digital currency

Kuroda says BOJ has no immediate plan to issue digital currency

TOKYO: Japan has no immediate plan to issue central bank digital currency (CBDC), Bank of Japan Governor Haruhiko Kuroda said on Tuesday as financial leaders from the Group of Seven (G7) advanced economies shared a common view on digital payments."The BOJ has no immediate plan to issue CBDC," Kuroda told …

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Global watchdogs agree on rules for stablecoins like Facebook's Libra

Global watchdogs agree on rules for stablecoins like Facebook's Libra

LONDON: Central banks set out to regulate cross-border stablecoins like Facebook's planned Libra with a common approach on Tuesday, saying more rules may later be needed to ensure stability.The prospect of a currency-backed stablecoin being used by billions of people on Facebook has galvanised central banks into putting together rules …

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