chinese market
Conflux to Deploy Uniswap v3 on Network
Conflux plans to deploy Uniswap v3 on its network, offering access to millions of potential new users in the Chinese and Asian markets. The move comes after the Uniswap v3 code license expired, allowing developers to fork the protocol and deploy their own decentralized exchange. Conflux has experienced a spike in traffic in the first quarter of 2023 and has a market capitalization of nearly $1 billion.
Leading Chinese Filecoin Miner Maker IPFSMain Suspends All Products
One of the leading Chinese Filecoin mining machine providers, IPFSMain has suspended sales of all products.
Cryptos Confiscated from $4.2 Billion PlusToken Scam Likely Sold by Chinese Police, says Journalist Colin Wu
China’s crypto journalist Colin Wu believes that Chinese police have sold cryptocurrencies seized from the $4.2 billion PlusToken Ponzi crackdown.
Chinese Bank Issues the First Asset-Backed Commercial Paper in China on Blockchain
China Zheshang Bank, based in Zhejiang province has leveraged blockchain technology to issue the country’s first asset-backed commercial paper in the Chinese financial market. China Zheshang Bank successfully issued the “Lianxin 2020 Lianjie First Phase Asset-backed Commercial Paper,” which was worth 120 billion yuan ($16.93 billion). The asset-backed commercial paper (ABCP) was issued as a part of the National Association of Financial Market Institutional Investors’ (NAFMII) pilot project. ABCPs are short-term investments issued by financial institutions to support companies in their short-term goals.
Chinese Crypto Veteran Reveals More About Binance After Top Executives Leave CoinMarketCap
Chinese crypto veteran Li Xiaolai revealed to the public via social media platform Weibo, about Binance’s operations.
China’s CBDC Should Start Replacing Cash But Not Confined to Substitution, says Former Chinese Banker
Former Chinese banker, Wang Yongli suggested that a push for digital currencies to substitute all currencies is needed to support monetary operation reforms.
Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot
The Chinese central bank, People’s Bank of China has recently approved the city of Chengdu to carry out fintech innovation supervision pilots.
Chinese Yuan Poised to Become the World’s Third Largest Reserve Currency by 2030—Is DCEP Part of the Plan?
Morgan Stanley analysts are predicting that the Chinese yuan will become the third-largest reserve currency in the world, is the DCEP part of the plan?
Chinese Government Releases First-Ever Blockchain Application Blueprint, Continuing on its Major Tech Push
The Chinese government has released its first-ever blockchain application blueprint regarding government services in the country. According to Beijing’s blueprint, 140 government services applications are already on blockchain and are divided into three categories, including data sharing and exchange, business collaborative processing, and electronic certificate and certificate storage.
Binance Invests Heavily in Chinese Crypto Media Firm
According to a Bloomberg report, Binance has debuted an investment in China With a crypto Media and data sourcing company, Mars Finance.
Alibaba to Bring Blockchain Technology to Chinese Shipping Ports
China is tapping into the potential of blockchain technology like none other; the country’s entrepreneurs and local governments alike have already started implementing blockchain-based projects while most of the globe grapples with legality issues.
Less Than 10% of Chinese Blockchain Companies Actually Have Blockchain
Here’s something unsurprising, The Block, citing China’s “Focus Report,” says that over 90% of China’s 32,000 blockchain companies don’t have the technology:
China Tightens Regulation on Tech Industry, Sinking Alibaba and Tencent Stocks on Single’s Day
China's regulatory clampdown on the technology industry has resulted in Chinese tech shares' underperforming on the stock market.