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Shares of Chinese Fintech firms are surging as the nation’s investors prepare for the upcoming launch of a national digital currency.
Central Bank Digital Currencies or CBDCs are on their way. That is according to ING's Chief Economist, Mark Cliffe. In a post and video, the global bank states: 'Rapid advances in distributed ledger technology have spurred debate about the possibilities, advantages and drawbacks of central
Dr. Zhou Xiaochuan, President, China Society for Finance and Banking, and former Governor, People’s Bank of China, addressed a closed-door audience today in an event sponsored by the Monetary Authority of Singapore (MAS). The topic of Dr. Xiaochuan's speech was 'Fintech development and its interaction
Industry figures argue central bank money is needed for token-based securities settlement
Chile’s top central banker says the financial system could benefit from central bank digital currencies, particularly in “unconventional” monetary policies.
Although payments are increasingly digital, China has little interest in creating a self-settling digital yuan system using blockchain, Abacus News reports. According to the outlet: 'China is increasingly a cashless society. Even street-food sellers in small towns will prefer to use a mobile payment app
China to Include P2P lending Industry into Credit System On September 2nd, the special working group for Fintech risk ratification and special working group for online lending administration jointly issued a notice, requiring all p2p lending institutions to be connected to the credit system established
While China has obviously morphed from a command economy to one that has wholeheartedly embraced the benefits of capitalism and a market economy there still remains substantial central planning. The current Belt and Road initiative is all about global development and increasing China's influence around
The People’s Bank of China’s much-anticipated digital currency may allow fund transfers without needing a bank account, according to Binance Research.
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
Sovereign states and central banks could digitize paper money and be the concrete alternative to Libra.
After five years in development, the deputy director of the People's Bank of China's Payments and Settlement Division, Mu Changchun, says, '(The) People's Bank digital currency can now be said to be ready.' Shanghai Securities News (SSN) writes that Mu made the announcement at the third
New electronic payment system will use double-layer framework for digital currency
China’s State Council Approves the Research and Development of CBDC At the launching ceremony and the first academic seminar of the Digital Finance Open Research Project held on July 8th, Wang Xin, director of the Research Bureau of the People's Bank of China, revealed that