China’s digital yuan gets smart contract functionality alongside new use cases

China’s digital yuan gets smart contract functionality alongside new use cases

Source: Cointelegraph China’s central bank digital currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contract function was launched on the Meituan app, a Chinese app offering retail and food delivery services, according to a Jan. 17 report by local […]

China’s central bank includes digital yuan in report on currency circulation

China’s central bank includes digital yuan in report on currency circulation

Source: Cointelegraph The People’s Bank of China, or PBoC, has begun including the country’s central bank digital currency, the e-CNY, in reports measuring the amount of currency in circulation. According to a 2022 financial statistics report released on Jan. 10, the PBoC said there was 13.61 billion digital yuan — worth roughly $2 billion at the time […]

The Geopolitics of CBDCs

The Geopolitics of CBDCs

Written by Jannah Patchay, Policy Lead for the Digital Pound Foundation Central bank digital currencies (CBDCs) – a digital form of central bank-issued fiat currency – have seen explosive growth in interest over the past four years. At the start of 2023, 114 countries, representing 95% of global GDP, are currently exploring CBDC, of which 60 […]

China’s CBDC wallet resorts to ages-old tradition to boost adoption

China’s CBDC wallet resorts to ages-old tradition to boost adoption

Source: Cointelegraph China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as reported by […]

BIS releases full report on mBridge wholesale CBDC platform after successful pilot

BIS releases full report on mBridge wholesale CBDC platform after successful pilot

Source: Cointelegraph The Bank for International Settlements (BIS) has released the full details of its mBridge pilot project to use central bank digital currencies (CBDCs) for foreign exchange. Commercial banks in four jurisdictions made cross-border transfers using CBDCs and distributed ledger (blockchain) technology in the project, which was heralded as a success. Twenty commercial banks in Hong Kong, […]

Bank of China: Digital yuan transactions volume crossed $14B mark

Bank of China Digital yuan transactions volume crossed $14B mark

Source: Cointelegraph China’s central bank digital currency (CBDC) project has reached the mark of close to $14 billion, or 100.04 billion yuan, of made transactions during its pilot phase. It makes the digital yuan, also known as the e-CNY, the most widely adopted CBDC in the world. As the Bank of China reported in the post on its official […]

Landmark International CBDC Test Deemed Success, BIS Says

Source: Coindesk A project involving multiple Asian central bank digital currencies (CBDC) has been badged a success, facilitating over $22 million in foreign-exchange transactions, the Bank for International Settlements (BIS) said Tuesday. The trial, described as the first of its kind ever, used a custom-built distributed-ledger technology platform, is supported by central banks from China, […]

Russia plans to use digital rouble in settlements with China, says lawmaker

Source: Reuters After launching a digital rouble early next year, Russia plans to use the currency in mutual settlements with China as it seeks to reduce Washington’s global financial hegemony, a senior Russian lawmaker said on Monday. Russia, like many countries, has been developing digital money over the last couple of years to modernise its […]

Protecting Privacy in New Forms of Digital Money

Protecting Privacy in New Forms of Digital Money

About the event The Digital Pound Foundation is holding the first in its planned series of Roundtable events on Wednesday 21st September at 3pm BST. The purpose of the Roundtables is to bring together experts and industry practitioners in exploring real, practical solutions to the challenges and opportunities arising from the emergence of new forms […]