TL;DR Breakdown China bans entertainment firm for suspected crypto involvement China crackdown on crypto China has taken their crypto crackdown to a new level after shutting down an entertainment firm suspected to be into crypto trading. The firm is said to have a Non-Fungible Token (Mao Li coin). The firm Beijing Qudao Cultural Development Co […]
TL;DR Breakdown China has debuted the first digital currency backed by China, digital yuan This payment system was introduced in Xiong’an New Area This will be the first blockchain-powered CBDC for payments of salaries China’s stance on cryptocurrencies is clear despite the rumors. After the rumors that Bitcoin was banned in China, China came out […]
TL;DR Breakdown France, Switzerland to trial cross-border CBDC Digital Yuan, inspiration behind project? Switzerland, France says project doesn’t mean a CBDC is in sight The Bank of France and the Swiss National Bank, the apex bank of both France and Switzerland, are currently working on an experimental cross-border CBDC (Center Bank Digital Currency), dubbed “Project […]
TL;DR Breakdown $3 million digital yuan to be given to Shangai residents Air drop aimed at improving CBDC adoption Africa joins race for CBDC Shangai has announced that it would be airdropping digital yuan worth $3 million to 350,000 consumers in a lottery-style system. The airdrop is to grow the digital yuan further. The municipality, […]
TL;DR Breakdown China to use CBDC locally after launch China takes CBDC test to more regions Zhou Xiaochuan, a former Governor of the Peoples Bank of China, has said that the China CBDC (Central Bank Digital Currency) would be utilized locally instead of a global use immediately after the currency goes public. According to the […]
·         Chinese CBDC used for transactions across border. ·         PBoC calls for cooperation and world-wide interoperability Digital Yuan makes debut cross-border transaction China successfully completed a first international test of its CBDC. The pilot test was carried out between China and Hong Kong. An official at the Peoples Bank of China (PBoC), Wang Xin, said […]
TL;DR Breakdown ECB to float CBDC 2025 if approved China to float CBDC 2022 President of the European Central Bank, ECB, Christine Lagarde has said that by 2025, the Digital Euro will launch if the continent would ever have a Central Bank Digital Currency, CBDC. During an interview with Bloomberg, Christine Lagarde talked about the […]
TL;DR Breakdown Central Banks could leverage Ripple’s XRP ledge interoperability. CBDCs continue to gain worldwide acclamation. Ripple undeterred despite legal battle with U.S. SEC. With the world edging closer to the creation and adoption of central banks digital Currencies (CBDC), the Ripple team have announced that it is on course to introduce an XRP ledger […]
TD;LR Breakdown China begins massive digital Yuan allocation in Chengdu. Chinese Digital Yuan becomes the leading CBDC. Digital Yuan, not a threat to other centralized digital payment platforms according to PBoC. The People’s Bank of China (PBoC) has announced that it will begin the roll out of its digital currency in Chengdu, China. This is […]
TL;DR Breakdown: Beijing and Suzhou will distribute about $6 million digital yuan on Wednesday. In total, more than $17 million of the CBDC has been issued under test. According to an SCMP report on Monday, two major cities in the Republic of China, Beijing, and Suzhou, are planning to issue more digital yuan to local […]