Category: e-cny

Chinese Banks Seek New Applications for Digital Yuan in Investment and Insurance

Chinese Banks Seek New Applications for Digital Yuan in Investment and Insurance

Two Chinese banks are expanding their pilot programs for the digital national fiat. The state-owned financial institutions have revealed they are aiming to allow digital yuan holders to acquire investment funds and insurance products using the new currency. Chinese Banks Partner With Fund Managers and Insurers in Search of Digital Yuan Use Cases China Construction […]

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Beijing subway has fully integrated China’s central bank digital currency with its payment ecosystem

Beijing subway has fully integrated China’s central bank digital currency with its payment ecosystem

The subway system in Beijing has extended its trial of China’s central bank digital currency to a full integration with its payment ecosystem. According to the Beijing railway’s announcement on Tuesday, China’s digital yuan, also known as the e-CNY, is now fully supported as a payment or balance top-up option across 428 subway stations in […]

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Digital Yuan to Promote International Use of Chinese Currency, Experts Say

Digital Yuan to Promote International Use of Chinese Currency, Experts Say

The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan […]

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Chinese Insurance Giant Ping An Starts Issuing Digital Yuan Settled Policies

Digital Yuan (e-CNY), the Chinese soverign national digital currency is now being used as a settlement tool for insurance policies. Insurance giant Ping An Property & Casualty Shenzhen Branch teamed up with Bank of China Shenzhen to issue the first even digital yuan settled insurance policy. The policy is exclusively available for the medical staff […]

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Senators call for American athletes to be barred from using digital yuan during Beijing Winter Olympics

Senators call for American athletes to be barred from using digital yuan during Beijing Winter Olympics

A trio of U.S. senators said Monday that American participants in Beijing Winter Olympics, set for 2022, shouldn’t use China’s digital yuan, which will potentially play a role during that event. Chinese officials have said that the digital yuan may be rolled out for wider use during the Winter Olympics, building on months of tests […]

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China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced

China Reveals Digital Yuan White Paper: Smart Contracts, $5.4B Settled, Large Transfers Traced

The working group involved with the research and development of the digital yuan for the People’s Bank of China (PBOC) has published a paper describing the digital currency’s progress. The PBOC initiated a task force dedicated to the creation of a digital yuan in 2014, and the recently published document is the project’s first white […]

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China publishes first e-CNY whitepaper, confirming smart contract programmability

China publishes first e-CNY whitepaper, confirming smart contract programmability

The People’s Bank of China (PBoC) has published a whitepaper for the country’s central bank digital currency for the first time, marking yet another step toward its official rollout. The PBoC issued a whitepaper on Friday for its digital yuan project, also dubbed the e-CNY, which notably confirms that the digital fiat currency is designed […]

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China’s new digital yuan test shows it can be programed to confine utility

China’s new digital yuan test shows it can be programed to confine utility

Chengdu is kicking off its second giveaway campaign of the China’s central bank digital currency (CBDC), dubbed the digital yuan or the e-CNY, but with a notable difference this time. The Chengdu government said in an announcement on Friday that it is issuing 12 million e-CNY — worth around $1.85 million — through a lottery […]

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