WeChat, China’s leading social networking and payment app, has now integrated the country’s central bank digital currency, the digital yuan, into its payment services, according to local reports. This move comes after Alipay, another leading payment platform, added the same functionality to its platform in December 2022. WeChat’s addition of the digital yuan fast payment … Continue reading WeChat Adds Digital Yuan Payment Functionality
Alipay, one of the most popular digital payment systems under China’s Alibaba group, officially stated that it would be banning all payment transactions related to Bitcoin and other cryptocurrencies. As mentioned in a twitter thread, “there’re several reports about @Alipay being used for bitcoin transactions. To reiterate, Alipay closely monitors over-the-counter transactions to identify irregular behavior … Continue reading Alipay Officially Bans All Bitcoin-Related Transactions
On Saturday, Oct 26th, China’s top legislature voted to pass a national cryptography law that will come into effect on January 1st, 2020. The vote was passed just one day after Chinese President Xi Jinping stressed the necessity for China to leverage blockchain technology. According to an announcement from the National People’s Congress (NPC) Constitution … Continue reading China’s Cryptography Law Piques Local Interest and Stirs Global Market Reaction
This article was contributed by our content partner, Nexchange Now. Olga Yaroskevsky: You’ve described 4 possible scenarios for a CBDC to evolve: interbank settlement, similar to cash, new policy tool, public deposit in CB, but none of them are perfect, according to your words, perfect. Why? Alicia Garcia-Herrero: It depends on what you want to do. If … Continue reading NexChange Interview Series: Alicia Garcia-Herrero, Part 2
This article is contributed by our content partner, Nexchange NOW. It’s all about China and blockchain. After breaking news of President Xi Jinping’s official endorsement on the blockchain technology and Bitcoin performing a sharp “to-the-moon” move and hitting $10K over the weekend, blockchain-related stocks in China also received a major boost. Derivatives exchange FTX has … Continue reading China, the PBoC x Blockchain: Love and Marriage, Horse and Carriage
The Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute, has signed an agreement with multinational telecommunications giant Huawei. Fan Yifei, the PBoC deputy governor signed the fintech research cooperation agreement between Huawei and PBoC’s Digital Currency Research Institute in Shenzhen at Huawei’s headquarters. Huawei said that the “strategic cooperation” agreement is for FinTech research. Fan also … Continue reading China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei
Governments across the world are beginning to explore the potential benefits of integrating blockchain-based applications into the public sector. Blockchain has the ability to record transactions on distributed ledgers. In this way, blockchain, therefore, provides new opportunities for governments to establish trust, prevent fraud, and improve efficiency. Such great benefits attract huge attention of governments … Continue reading Thai Government Announces Blockchain Technology Adoption in Finance Agencies to Enhance Work Efficiency
The Singapore Fintech Festival rounded up blockchain discussions on the last day of the festival, focusing on one of the main themes of the event, financial inclusion. Discussions sparked in a panel joined by Changpeng Zhao (CZ), CEO of Binance, Weimin Guo, Chief Scientist of the Bank of China, and Vice-Chairman of the Chinese Internet Financial Working Committee, … Continue reading Blockchain Experts Discuss: Will Blockchain Be the Missing Piece to Financial Inclusion?
During Hong Kong Fintech Week 2019 held on Nov. 4-8, Zachary Keats, the Director of Corporate Development at Klaytn and Ground X, shared his insights on blockchain adoption initiatives in Korea. Kakao, a South Korean internet company offering a platform of services including messaging, cab-hailing, and payments, has developed Klaytn, the blockchain business arm of … Continue reading The Story Behind Kakao and Klaytn's Blockchain Dominance in Korea
Chinese internet giant Tencent, also the operator of messaging app WeChat has been reported that the company is looking to create a digital currency research group. Tencent released a statement to its employees, stating that the company is currently hiring a new head of the research group. iFeng reported that the digital currency research group would … Continue reading Chinese Internet Giant Tencent on the Lookout for New Head of Digital Currency Group