The Bank of China Hong Kong, the second largest bank in the region, has completed its first cross-border digital yuan-based trade. The transaction, finalized with its sibling bank, the Bank of China, served to receive the payment for an imported iron ore commodity bulk trade, establishing the digital yuan as an option for this kind […]
Singapore and China have teamed up on a pilot to allow tourists in both countries to spend China’s central bank digital currency, the digital yuan. “This will enhance convenience for travelers when making purchases during their overseas travel,” Singapore’s central bank described. Tourists in China and Singpoare Can Spend Digital Yuan Singapore’s central bank, the […]
Standard Chartered Bank (China) has become one of the first foreign banks to participate in China’s central bank digital currency (CBDC) pilot. The bank explained that as an international bank rooted in the Chinese market for 165 years, Standard Chartered is optimistic about the development prospects of the digital yuan. Standard Chartered Participates in …
The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and the ability to use the Fast Payment System to top up digital yuan wallets. […]
The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help companies avoid the difficulties of using a single high-cost, cross-border payment channel. People’s Bank of China Eyes […]