Digital Yuan Archives

Hong Kong To Expand Pilots For Cross-Border Use Of Digital Yuan

May 13, 2021

The first phase of tests for use of the China's central bank digital currency (CBDC) - digital yuan across borders has been successful, the Hong Kong Monetary Authority has said. The Digital Currency Institu...

Digital Yuan Gets a ‘Lackluster’ Welcome at Biggest Test Site

May 10, 2021

A report has concluded that China’s digital yuan has failed to impress in early large-scale pilots, drawing a “lackluster reception” from participants – a fact that could throw up “hurdles to yuan internation...

Ant Group Reveals PBoC Partnership for Digital Yuan Development

April 26, 2021

Tencent and Alibaba-owned Ant Group are two Chinese tech giants which recently revealed their involvement with the People’s Bank of China in developing digital yuan, South China Morning Post reported on Monday....

Chinese Central Bank, Others to Test CBDC-Based Cross-Border Payments

February 23, 2021

The Digital Currency Institute, the People’s Bank of China’s digital currency wing, and the central bank of the United Arab Emirates have joined other Asian monetary regulators in a central bank digital curre...

Chinese City Suzhou to Distribute $5 Million in Digital Yuan

February 5, 2021

China is extending its digital yuan trial yet again as the city of Suzhou has announced the lottery to distribute 30 million yuan (around $5 million) among the residents in digital fiat. The city government ...

PBoC Introduces Physical Card Wallet To Test Digital Yuan

January 10, 2021

PBoC introduces physical card-wallet to test digital yuan. According to news reported on January 5 by Tencent News, employees at Shanghai Jiao Tong University School of Medicine’s Tongren Hospital used the di...

Selected Shenzhen Residents Will Receive Lottery ‘Red Envelopes’ With Digital Yuan

January 4, 2021

Selected Shenzhen residents will receive lottery 'red envelopes' with digital yuan. The city of Shenzhen is offering its citizens the opportunity to register to participate in a municipal lottery as of last w...

Shenzhen Announces 20 Million Digital Yuan Giveaway

January 4, 2021

Shenzhen, one of the most populous cities in China announced that its residents will be able to receive 20 million digital yuan, worth nearly $3 million as a gift. Shenzhen joins Suzhou to test the real-life ...

China’s Digital Yuan Completed 20K+ Transactions in Successful Weekend Trial

December 14, 2020

Residents of China sent 20,000 transactions through e-commerce platform, JD.com within the first 24 hours of a trial of the country’s digital yuan in the city of Suzhou, according to the Global Times. CNBC r...

DiDi, Meituan, Bilibili Participate in Suzhou’s Digital Yuan Test

December 11, 2020

Three Chinese internet giants, ride-hailing service, DiDi, food-delivery app, Meituan, and video platform, Bilibili, are participating in the country’s latest test with digital yuan in the city of Suzhou. Lo...