Search Results for "major china’s bank"
China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed
A source close to the matter said that China's CBDC pilot program "has not yet been expanded on a large scale," and the test is just "internal and closed.”
China’s First National Level Blockchain Cross-Border Financial System Goes Live
China Guangfa Bank (CGB), a major Chinese bank, has officially launched the blockchain-based cross-border financial service platform on June 15, with the guidance of the Guangdong Branch of the State Administration of Foreign Exchange.
China's Central Bank Digital Currency DCEP: What We Know So Far
China has been charging full speed with its digital currency development plans in response to Facebook’s Libra. China’s state-owned bank, the People’s Bank of China (PBoC) has been reportedly developing their own digital currency aimed to replace cash in circulation and was said to be ready in the coming months.
China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May
Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.
Central Bank Digital Currencies Unmasked by Dr. Alicia Garcia-Herrero at Natixis
Blockchain.News has been delighted to reach out to Garcia-Herrero for her to share some thoughts on central bank digital currencies around the world. Central bank digital currencies (CBDCs) have increasingly sparked interest in recent years. With the notion of China’s central bank, People’s Bank of China (PBoC) announcing its plan to issue its digital currency (DCEP) and Facebook’s Libra stablecoin emergence, the world has been paying more attention to CBDCs.
China’s WeBank Makes its First Move to Take its Blockchain Global, Partnering with Singapore's OpenNodes
China’s top digital bank WeBank has announced its partnership with Singaporean government-backed OpenNodes. This partnership will allow China’s FISCO BCOS blockchain platform to be brought to Singaporean academics for innovation and new initiatives. FISCO BCOS was deemed to be China’s version of Hyperledger Fabric when it was launched in 2018. The Financial Blockchain Shenzhen Consortium (FISCO) is backed by more than 100 Chinese organizations, including Huawei, Tencent, JD Finance, and WeBank, which is partly backed by Tencent. Developed by FISCO, the enterprise blockchain protocol was the first blockchain to be supported by China’s Blockchain Service Network.
China’s Digital Yuan Launch Could Threaten Macau’s Gambling Industry
Gambling businesses in Macau fear that the launch of digital yuan would render them obsolete.
China’s Central Bank Takes A Step Forward to Regulate Blockchain
China’s central bank, the People’s Bank of China is set to create industry standards across the financial technologies sector, including blockchain.
DBS Bank Joins R3-Backed Blockchain Trade Finance Network Contour Built on Corda
Singapore’s biggest bank, DBS Bank joined R3-backed Contour Network known for digitalizing global trade processes. Previously known as Project Voltron, Contour is a blockchain-based trade finance platform, built over R3’s Corda blockchain and was founded by R3 and major global institutions, including HSBC, ING, Standard Chartered, Citi Ventures, BNP Paribas, and Bangkok Bank, Bain & Company, and CryptoBLK. DBS Bank became the first Singaporean bank to join the network.
South Korean Bank, KB Kookmin, Shares Blockchain Strategy
KB Kookmin, a major South Korean bank, is planning to adopt blockchain technology into its internal processes.
China’s Central Bank Accelerates R&D of its Legal Digital Currency
People's Bank of China, the Central Bank of China made an announcement of the acceleration of the development of its legal digital currency.
China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain
China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.