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Real-world tests of the digital yuan show how it could disrupt China’s mobile payment giants

January 21, 2021 Alipay, Asia, Central Bank, China, DC/EP, Payments and Banking, WeChat Pay Eddy 0

Quick Take Merchants who supported digital yuan for real-world testing said they didn’t have to pay any transaction fees, unlike when they use third-party payment providers. The government has sent mixed signals about whether the central bank digital currency will compete with Alipay and WeChat Pay. This feature story is available to subscribers of The […]

The city of Shenzhen is planning yet another $3 million digital currency test

January 21, 2021 Asia, Central Bank, China, Digital Yuan, Lottery, People's Bank of China, red envelopes, shenzhen, suzhou Eddy 0

The Chinese city of Shenzhen is seeking to boost awareness and use of digital currency by giving 20 million yuan (over $3 million) away to its citizens, according to the Chinese news publication Xinhuanet. Shenzhen residents can receive 200 yuan worth of digital currency in “red envelopes” through a lottery, mirroring past trial runs. This initiative […]

Report: China dominates Bitcoins hash rate and crypto market

January 20, 2021 Bitcoin, BTC, China, News Eddy 0

Yuan transactions represented 90% of the global Bitcoin trade with a value over $10,000 and over a period of 4 years. Authorities’ crackdown on the crypto industry is causing China to lose market share. Messari’s analyst Mira Christanto has published a report on the state of the Asian crypto market. With 42% of the market […]

Shenzhen’s latest $3m digital yuan test sees nearly 140k transactions

January 19, 2021 CBDC, Central Bank, China, DCEP, Digital Yuan Eddy 0

Residents in Shenzhen have proceeded nearly 140,000 transactions in digital yuan during a 10-day city-wide test of China’s central bank digital currency, known as DC/EP. The city of Shenzhen conducted a second run of the digital yuan test starting from January 7 by giving away $3 million worth-of digital yuan to 100,000 local citizens via […]

China’s Blockchain Attempt BSN to Reportedly Integrate CBDCs This Year

January 17, 2021 AA News, Blockchain, Blockchain Adoption, CBDC, China, Crypto News Eddy 0

China is preparing a consequent major take on blockchain adoption. The country is developing a new project aimed at integrating international central bank digital currencies (CBDC) as a part of their recent blockchain endeavor, the BSN. Building a Universal Digital Payment Network as part of 2021 Outlook The country’s national blockchain project, Blockchain Service Network […]

Ant Financial quietly conducted a digital yuan test in Shanghai via AliPay

January 16, 2021 Alibaba, Alipay, Asia, China, DCEP Eddy 0

Quick Take Alibaba’s payment affiliate has quietly debuted a small-scale test of digital yuan via its mobile app AliPay. This was the first known instance in which the digital yuan was tested in a mobile wallet developed by a non-state-owned entity. But it appears the test did not draw much attention amid China’s ongoing scrutiny […]

Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

January 15, 2021 bitcoin mining hardware, BTC Mining Rigs, China, crypto mining, ipo, Mining, Mining Devices, nasdaq, United States, Whatsminer Eddy 0

One of the world’s biggest bitcoin mining machine manufacturers is preparing to go public in the United States. China-based Whatsminer is reportedly looking to obtain additional funds to buy Samsung chips with the initial public offering (IPO). Whatsminer’s Revenue Could Hit $1 to $2 Billion in 2021 According to Chinese media outlets and Asian journalist […]

Publicly-Listed Lottery Company to Buy $14.4M Worth of Bitcoin Mining Machines

January 13, 2021 ASIC Mining, Bitcoin mining, Bitmain, China, crypto mining, Lottery, Microbt, Mining, publicly listed company, United States Eddy 0

A U.S. listed Chinese sports lottery firm announced that it has entered into a purchase agreement to acquire bitcoin (BTC) mining machines. The deal involves the issuing of $14.4 million worth of 500.com Class A ordinary shares. Models Include S17, T17, M20s and S9 According to the announcement, 500.com Ltd reached an initial agreement to […]

Bull Run Boosts Hashrate Token Craze, Binance Hashcoin [BTCST] And Poolin Tokens Selling at Inflated Rates

January 13, 2021 Bitcoin, Bitcoin News, BTC Mining, BTCBRL, BTCBUSD, BTCDAI, BTCEUR, BTCGBP, BTCJPY, BTCKRW, BTCMXN, BTCNGN, BTCPAX, BTCRUB, BTCTRY, BTCTUSD, BTCUSD, BTCUSDC, BTCUSDT, BTCXRP, BTCZAR, China, hashrate tokens, Mining token, News Eddy 0

The mining gold rush has also led to the creation of mining hashpower pegged hashrate tokens launched by Binance and mining farm operator Poolin. Bitcoin’s race to $42,000 record price has led to a mining gold rush to profit the most as a result the mining difficulty on the network has also soared to an […]

State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs

January 12, 2021 Central Bank of China, China, china cbdc, Digital Yuan, digital yuan giveaway, News, People's Bank of China, shenzhen Eddy 0

The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to SZ News, the program is part of the ongoing […]

Category: China