Chinese retail giant JD accepts digital yuan payments for Singles Day
Some 450,000 JD.com customers have used China’s digital yuan for payments as of June 2021. E-commerce giant JD.com took payments in China’s central bank digital currency (CBDC) at a massive local shopping event.JD.com accepted digital yuan (e-CNY) for payment on its e-commerce application for the Singles Day promotion period which began on Oct. 31 and ended on Nov. 11, the firm confirmed on Thursday.Singles Day is an unofficial shopping holiday in the country that also celebrates people who aren't in a romantic relationship. “100,000 people had used e-CNY on JD.com’s app during the....
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Bank of Communications and China Construction Bank are working with fund managers and insurers to facilitate e-yuan payments for Chinese citizens. Government-backed Chinese banks have reportedly started exploring new use cases for the digital yuan by allowing citizens to use it to buy insurance products and investment funds online.The South China Morning Post reported on Tuesday that leading Chinese banks such as Bank of Communications (Bocom) and China Construction Bank (CCB) are working with fund managers and insurers to enable e-yuan payments for sectors beyond the retail landscape. The....
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Two Chinese banks are expanding their pilot programs for the digital national fiat. The state-owned financial institutions have revealed they are aiming to allow digital yuan holders to acquire investment funds and insurance products using the new currency. Chinese Banks Partner With Fund Managers and Insurers in Search of Digital Yuan Use Cases China Construction Bank (CCB) and Bank of Communications (Bocom), two leading state-run banks, are increasing efforts to find new applications for the central bank digital currency (CBDC) issued by the People’s Bank of China. The lenders....
Popular digital currency exchange BTC-e announced today it would begin trading in Chinese 'offshore yuan' (CNH), becoming the first international bitcoin exchange to offer both US dollars and yuan, and opening a field of new opportunities for currency speculators. "We are pleased to inform that new trading instruments with Chinese offshore Yuan has been added. Now btc-e clients can trade 3 new instruments. A unique trading instruments that enables you to benefit either from price fall or increase are now available in your btc-e MetaTrader4 and WebTrader platforms under following symbols:....