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Category: digital renminbi

China’s CBDC e-CNY a Certain Step to Internationalize the Use of Renminbi

Chinese central bank is all keen on internationalizing the use of the national currency Renminbi (RMB) in the international market, and its central bank digital currency is a key step in this direction. The PBoC is confident that promoting the use of e-CNY will make RMB the world’s third-largest currency in terms of trade, settlements,

The post China’s CBDC e-CNY a Certain Step to Internationalize the Use of Renminbi appeared first on Coingape.

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Beijing Rail Transit Accepting Digital Renminbi Payments in Pilot Program

The Beijing Rail Transit has launched a pilot program that accepts the country’s CBDC for payments. The digital renminbi can now be used to pay for tickets on multiple railway lines.

The post Beijing Rail Transit Accepting Digital Renminbi Payments in Pilot Program appeared first on BeInCrypto.

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Jefferies: China’s Crypto Crackdown Is Only to Avoid Competition to Digital Reminbi

Jefferies global head of equity strategy Christopher Woods recently published a research note talking about the recent regulatory action and China’s crackdown on cryptocurrencies. Wood said that amid the Chinese crackdown on crypto is more concerned with nullifying the competition to its own CBDC – Digital Renminbi – rather than the carbon footprint measures. “Certainly,

The post Jefferies: China’s Crypto Crackdown Is Only to Avoid Competition to Digital Reminbi appeared first on Coingape.

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China Plans A $6.2 Billion Digital Currency Lottery for Beijing Residents

After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of digital currency. China has been conducting such programs for a while as it goes on to

The post China Plans A $6.2 Billion Digital Currency Lottery for Beijing Residents appeared first on Coingape.

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