Chinese visitors will soon be able to use digital yuan for “tourist spending” in Singapore as part of a pilot to test the use of China’s central bank digital currency (CBDC) for cross-border payments... More
Industrial enterprises, fintechs, commercial banks, start-ups and other businesses relocating to China’s newly opened digital yuan industrial park in the city of Shenzhen will receive incentives including settlement payments of between 500,000 and 50m yuan (US$6.8m), free rent for up to three years and loans with favourable interest rates... More
Regions across China have launched a series of digital yuan voucher giveaways to drive adoption of the country’s central bank digital currency (CBDC) and encourage consumer spending using the digital currency during the Asian Games and the Mid-Autumn and National Day festivals... More
Tourists and other foreigners visiting China can now upload digital yuan to the country’s prototype central bank digital currency (CBDC) digital wallet using their Mastercard or Visa credit card... More
Chinese banks have joined a government initiative to add support for payments made using China’s central bank digital currency (CBDC) to physical state-issued social security cards, according to local media reports... More
Public transportation users in the Chinese city of Jinan can now use the country’s central bank digital currency (CBDC) to pay their fares on any of the area’s buses... More
Passengers using Qingdao Metro’s line 4 can now use their NFC mobile phone to pay directly for their fares with China’s digital yuan central bank digital currency (CBDC), even if their mobile phone has no signal or has run out of battery... More
The People’s Bank of China (PBOC) has added a function to its digital yuan payment app that allows users to continue to make offline payments using the central bank digital currency (CBDC) from their Android NFC smartphone even if their device has no power... More
Chinese consumers in the 23 cities and regions piloting the country’s central bank digital currency (CBDC) can now automatically transfer funds to their digital yuan wallet app whenever their balance runs low, removing the need to manually top up the balance in their e-yuan app... More
Nearly one in five Chinese consumers have downloaded the country’s official digital yuan wallet app (19%), with the majority of them mainly using the central bank digital currency (CBDC) for ecommerce purchases (72%) and payments for public services such as transportation (67%), a survey by US research firm Morning Consult has found... More
Students attending Hainan Lu Xun Middle School in the Chinese city of Sanya are the first in the country to trial a digital yuan hard wallet device that enables them to make payments to designated merchants on and off the school’s campus using China’s central bank digital currency (CBDC) as well as verify their identity using NFC... More
China has issued an update to the pilot version of its digital yuan wallet app for Apple users that is “adapted to the iOS 15.4 system changes” released this week, and has uncovered an attempt to use the central bank digital currency (CBDC) in a fraud and money laundering case, according to local media reports... More
China is to launch trials of its central bank digital currency (CBDC) in more cities and regions across the country after rolling out a pilot version of the digital yuan wallet app in January and trialling the CBDC during the Beijing Winter Olympics... More
Around 100 countries are now exploring the potential development and issuance of a central bank digital currency (CBDC), and the challenges and opportunities identified by these research projects reveal a need for “increased international information-sharing of insights learned”, according to an International Monetary Fund (IMF) report... More
Chinese consumers can now make online payments for purchases from the JD.com ecommerce app using digital yuan stored on a physical card or hard wallet via their Android NFC smartphone... More
Overseas athletes and spectators visiting the Beijing Winter Olympics will be among the first foreign nationals to be able to trial China’s digital yuan central bank digital currency (CBDC) at event venues, nearby merchants and inside the Olympic Village... More
Android and Apple users in 10 Chinese cities can now download a pilot version of the country’s digital yuan wallet app directly from the iOS and Android app stores that enables them to acquire, store and use China’s central bank digital currency (CBDC)... More
The total number of personal and corporate digital yuan wallets issued in China has risen from 24.5m in July to 140m as of October, an increase of nearly 600%, the People’s Bank of China’s Mu Changchun has revealed... More
The Chinese government is reportedly putting pressure on US-based companies including McDonald’s, Visa and Nike to accept payments in digital yuan before the start of the 2022 Beijing Winter Olympics... More
Chinese e-commerce platform Meituan is to enable customers of its bicycle hire service to pay for their rides with the country’s central bank digital currency (CBDC) while offline using an NFC-enabled digital yuan hard wallet... More