The Hong Kong Monetary Authority (HKMA) is launching “a comprehensive study” that will explore the use cases, benefits and risks of developing a digital Hong Kong dollar as a central bank digital currency (CBDC)... More
Mastercard is seeking a role in the development of China’s central bank digital currency (CBDC) by supporting the use of the digital yuan for cross-border transactions and its conversion to and from foreign currencies, according to South China Morning Post (SCMP)... More
The People’s Bank of China (PBOC) and the Industrial and Commercial Bank of China (ICBC) have unveiled prototype hardware devices that support the use of the digital yuan central bank digital currency (CBDC) across a range of different use cases... More
Projects to develop a retail central bank digital currency (CBDC) for use by consumers and businesses are “more advanced” and “particularly strong” in emerging economies, according to analysis by global consultancy firm PwC... More
Gamers in Shanghai were able to download a link to a video game by scanning a giant QR code created in the sky above the Chinese city by a formation of more than 1,500 drones with their smartphone... More
Octopus users in Hong Kong will soon be able to pay for public transport fares in more than 300 cities in mainland China with a new physical transit card to be launched “by the end of this year or early next year”, according to a South China Morning Post (SCMP) report... More
Customers of all six state-owned Chinese banks can now apply for test versions of the banks’ digital yuan wallets as the country rolls out the next phase of its central bank digital currency (CBDC) pilot programme in the city of Changsha... More
The Wall Street Journal has posted a video report showing Chinese consumers in the city of Chengdu using the country’s central bank digital currency (CBDC) to make in-store NFC and QR code payments from a digital yuan wallet on their mobile phone... More
Some 8,500 consumers in the Chinese city of Shanghai have been given e-wallets containing digital yuan as part of the country’s ongoing pilot scheme for its central bank digital currency (CBDC)... More
Tencent-backed WeBank and Ant-backed MyBank are conducting “preliminary work under the guidance of the People’s Bank of China (PBOC)” in order to integrate the digital yuan wallet into their payment and banking services, according to a China Securities report... More
General Motors (GM) may be looking to bring the biometric technology integrated into its Cadillac X4 vehicles in China to North America, enabling drivers to access their car using just face recognition... More
Chinese consumers taking part in the large-scale testing of the country’s central bank digital currency (CBDC) in Beijing over the Chinese New Year period are trialling a biometric ‘hard wallet’ card developed by the Postal Savings Bank of China... More
The People’s Bank of China has launched the first large-scale giveaway of the country’s central bank digital currency (CBDC) to be held in Beijing and has distributed 10m digital yuan (US$1.55m) to 50,000 participants in a ‘red envelope’ lottery... More
Chinese consumers made an average of three mobile payments a day during 2020, while 98% of the Chinese population consider mobile payments to be their most frequently used transaction method, an increase of five percentage points on last year, a new survey reveals... More
At least eight major banks, including Hong Kong-based China CITIC Bank, have now introduced or are in the process of introducing digital wallets that support China’s central bank digital currency (CBDC), according to local media reports... More
The People’s Bank of China (PBOC) is to follow its pilots of NFC-based contactless digital currency payments with the distribution of a further 20m digital yuan (US$3.1m) in a third ‘red envelope’ lottery to be held in the city of Shenzhen... More
China’s Blockchain-based Service Network (BSN) has revealed plans to develop a universal digital payments network (UDPN) based on standardised procedures for international transfers and payments with and between central bank digital currencies (CBDCs)... More
The Agricultural Bank of China has launched pilot ATMs that enable customers in Shenzhen to deposit and withdraw money in the form of digital yuan, the country’s central bank digital currency (CBDC)... More
The People’s Bank of China (PBOC) has expanded its central bank digital currency (CBDC) pilot to include a contactless ‘hard wallet’ and NFC wearables that enable consumers to make in-store and transit fare payments with their digital yuan... More
The People’s Bank of China (PBOC) is to enable participants in the next phase of its central bank digital currency (CBDC) pilot to test for the first time the use of digital yuan for making both online purchases and touch-based in-store offline payments... More
