Yuan | ForkLog

ForkLog 7 23.08.2024

Plans for Two Cryptocurrency Exchanges Emerge in Russia

Russia is set to see the launch of two cryptocurrency exchanges—one based on the St. Petersburg Currency Exchange focusing on foreign economic activity, while a decision on the other remains pending. This information comes from sources cited by “Kommersant“. The second platform may be established in Moscow. It is yet to be decided whether it […]

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ForkLog 22 17.06.2024

Money Laundering Scheme via e-CNY Uncovered in China

The Yuecheng District Prosecutor’s Office in Shaoxing City, Zhejiang Province, has investigated a case involving the use of digital yuan (e-CNY) accounts for cashing out and laundering money, according to local media reports. A group of four individuals located merchants accepting the central bank digital currency (CBDC) and arranged to exchange a certain amount of […]

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ForkLog 8 10.06.2024

HSBC China Grants Corporate Clients Access to Digital Yuan

HSBC’s China division, in collaboration with the Bank of China, has enabled corporate clients to conduct transactions using the e-CNY. This initiative aims to foster the development of the digital economy. The organisation is among the first foreign institutions to offer e-CNY services to both individuals and businesses, according to the press release. HSBC China’s […]

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ForkLog 10 17.05.2024

China Expands e-CNY Programme to Hong Kong

The Hong Kong Monetary Authority and the People’s Bank of China have announced the expansion of the digital yuan (e-CNY) usage in the autonomous region. According to the regulators’ statement, Hong Kong residents can now top up their wallets through 17 retail banks in the jurisdiction and conduct financial transactions with the asset in pilot […]

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ForkLog 9 13.05.2024

Challenges in Adoption of China’s Digital Yuan

Some participants in China’s pilot e-CNY programme are hesitant to hold the asset due to various issues. Details were presented in SCMP. Journalists noted that most officials receiving salaries in CBDC rarely use it and convert it to cash. “I prefer not to keep money in the e-CNY app due to the lack of interest […]

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ForkLog 7 07.02.2024

Hong Kong Proposes Yuan-Pegged Stablecoins

The Hong Kong Chamber of Commerce urged the local government to include the issuance of yuan-pegged stablecoins in the upcoming budget. The proposal also includes the option to issue stablecoins backed by a basket of various currencies, including yuan. Currently, tokens based on the HKD and USD are permitted. Separately, the organization called on the […]

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ForkLog 17 12.07.2023

Chinese bank begins testing offline payments for the digital yuan

One of China's largest state-owned banks, Bank of China, is testing a new offline method for paying with the digital yuan (e-CNY) linked to SIM cards.

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ForkLog 4 05.07.2023

Singapore’s DBS Bank Adds Support for the Digital Yuan (e-CNY)

Singapore's DBS Bank opened for clients the ability to receive payments in the digital yuan (e-CNY).

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ForkLog 9 05.05.2023

BNP Paribas China integrates digital yuan into product line

Corporate clients of BNP Paribas' Chinese subsidiary can settle operations with e-CNY in real time. The initiative was implemented in partnership with Bank of China, according to the South China Morning Post.

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ForkLog 6 24.04.2023

Changshu to pay civil servants in digital yuan

Civil servants in Changshu's urban county (Jiangsu province) will begin to receive their salaries entirely in the digital yuan (e-CNY). Local media reported this.

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ForkLog 6 06.02.2023

China allocates millions to promote CBDC

Authorities in several Chinese cities distributed 180 million e-CNY (~$26.5 million) as subsidies and coupons to spur CBDC use by the population for the Chinese New Year, the Global Times reports.

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ForkLog 7 17.01.2023

China first uses CBDC in stock-market settlements

Soochow Securities has integrated in its mobile app the ability to pay in e-CNY. This is the first in-country example of CBDC use in the stock market, according to China Securities Journal.

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