Tag "e-CNY"

HKMA Eddie Yue Discusses Hong Kong’s Role in Shaping the Future of CBDCs

Eddie Yue, Chief Executive of the Hong Kong Monetary Authority (HKMA), shared his thoughts on the future of money and payment systems in an increasingly digital world at the International Conference on Central Bank Digital Currencies and Payment Systems. The

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How Has FPS Hong Kong Transformed the Payment Experience?

The introduction of the Faster Payment System (FPS) in Hong Kong has significantly transformed the landscape of financial transactions within the region, offering a testament to the city’s adaptability and forward-thinking approach in the fintech domain. Since its inception in

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Hong Kong and China to Expand Cross-Boundary Digital Yuan Pilots

The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBoC) unveiled six policy measures to bolster financial cooperation between Hong Kong and Mainland China. Among these, two fintech-related initiatives stand out: the enhancement of cross-boundary credit referencing

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Bank of China (Hong Kong) Completes First 24 Million Yuan e-CNY Transaction

Bank of China (Hong Kong) (BOCHK) completed an inaugural cross-border transaction using the electronic Chinese Yuan (e-CNY) for a bulk commodity purchase valued at 24 million yuan (approximately HK$26.16 million). The transaction was a joint effort with the Bank of

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CBDC: Hong Kong Furthers Digital HKD Ambitions

Hong Kong is working towards further integrating the digital yuan (e-CNY), unveiling last week a number of new initiatives designed to increase support of the central bank digital currency (CBDC) in the city. At the same time, the government is

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WeChat Broaden Digital Yuan Acceptance, Accelerating CBDC Adoption

China-based messenger app WeChat has announced that it has expanded digital yuan payments to its short video and mini-app platforms. This update is an extension of the e-CNY payments option that WeChat has already supported since early 2022. The move

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Despite Crackdowns, China Remains One of the World’s Top Crypto Market

Despite crackdowns on cryptocurrency trading and mining, China remains one of the most active cryptocurrency markets in the world, according to a new report by blockchain data platform Chainalysis. Between January and June 2021, cryptocurrency addresses believed to be controlled

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China’s CBDC Pilot Surpasses US$ 5 Billion in Total Transaction Value

Since launching pilots for its central bank digital currency (CBDC) back in late 2019, China has seen 70.75 million transactions being conducted using the so-called e-CNY scheme with value totaling RMB 34.5 billion, or US$5.3 billion, new data from the

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