Search Results for: Chinese

Tether Plans to Issue Stablecoin Backed by Chinese Yuan

Tether has been reportedly working on a new stablecoin pegged to the Chinese Yuan. The stablecoin project named “CNHT” came from the intention of Zhao Dong, one of the shareholders of the Bitfinex crypto exchange.   Zhao Dong’s digital banking business, RerenBit will be supporting CNHT’s trading and deposit services as soon as it is launched.       Zhao also confirmed that he … Continue reading Tether Plans to Issue Stablecoin Backed by Chinese Yuan

Tether Launches Stablecoin Backed by Offshore Chinese Yuan

Reported in late August, Tether had made plans to add a new stablecoin pegged to the Chinese Yuan, named “CNHT.” The idea came from the intention of Zhao Dong, one of the shareholders of the Bitfinex crypto exchange.       Tether mentioned in a blog post that the new stablecoin running on top of the Ethereum blockchain as an ERC-20 token would … Continue reading Tether Launches Stablecoin Backed by Offshore Chinese Yuan

Facebook’s Libra Encouraged to Exclude the Chinese Yuan Being Tied to the Stablecoin

While Facebook is facing regulatory approvals for its Libra project, Facebook told US senators that the initial group of currencies that Libra will be likely backed by the US dollar, Euro, Yen, British Pound, and the Singapore dollar.   Facebook reportedly produced the list regarding the concerns expressed by Virginia Democratic Senator Mark Warner that China may try … Continue reading Facebook’s Libra Encouraged to Exclude the Chinese Yuan Being Tied to the Stablecoin

Binance Invests Heavily in Chinese Crypto Media Firm

According to a Bloomberg report, Binance has debuted an investment in China With a crypto media and data sourcing company, Mars Finance. The cryptocurrency exchange, which is one of the biggest going by its current trading market volume has not yet disclosed the amount of capital involved; the strategic firm has been reportedly valued at about … Continue reading Binance Invests Heavily in Chinese Crypto Media Firm

Chinese Bank Partially Owned by the Government Invests in Nervos STO

The Nervos Network security token offering (STO) has aimed to start on Oct. 16, to raise an undisclosed amount within two weeks via theCoinList platform. Kevin Wang, the co-founder of the Nervos project said that China Merchants Bank International (CMBI) based in Hong Kong and a subsidiary of China Merchants Bank has committed to contribute to the public STO. 7 … Continue reading Chinese Bank Partially Owned by the Government Invests in Nervos STO

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance. His sentiments come at a time when decentralized finance (DeFi) has become an emerging trend, whereby decentralized networks are set to transform traditional financial approaches into transparent and trustless protocols.  According to … Continue reading Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Nanning, a Southern Chinese City, located in Guangxi Region, has experimented with a blockchain-enabled cross-border financial platform. Notably, it joins several Chinese cities, such as Ningbo and Xiamen, seeking to revamp their economic systems using cross-border blockchain networks.  As reportedby the Global Times, Nanning’s blockchain service system seeks to refurbish the present trade financing procedure … Continue reading Chinese City Tests Blockchain-Powered Cross-Border Financial Platform

Chinese Police Put MicroBT CEO Under Microscope Over Alleged Dispute With Bitmain

As stated by a local news outlet, the Chinese Police have just resumed its investigation of intellectual property infringement involving Yang Zuoxing, CEO of Shenzhen Bit Microelectronics Technology and Bitmain. In the course, Yang was being arrested to help in the investigation of the patent of Bitmain he allegedly infringed upon and if found guilty, … Continue reading Chinese Police Put MicroBT CEO Under Microscope Over Alleged Dispute With Bitmain

Chinese Bitcoin Mining Giant Canaan Files for $400m US IPO

This article is contributed by our content partner, Nexchange NOW. One of China’s largest bitcoin mining hardware makers, Canaan Creative, publicly filed for a U.S. IPO on Monday, The Block Reports. The Bitmain rival is slated to go public on the Nasdaq under the symbol “CAN” with the help of underwriters Citigroup, Credit Suisse, China … Continue reading Chinese Bitcoin Mining Giant Canaan Files for $400m US IPO

Less Than 10% of Chinese Blockchain Companies Actually Have Blockchain

This article is contributed by our content partner, Nexchange NOW. Here’s something unsurprising, The Block, citing China’s “Focus Report,” says that over 90% of China’s 32,000 blockchain companies don’t have the technology: On Monday, “Focus Report” released a full episode on the prevalence of fraud in China’s blockchain and cryptocurrency space. Titled “Blockchain is not … Continue reading Less Than 10% of Chinese Blockchain Companies Actually Have Blockchain

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