Top Chinese banks promote CBDC over local payment firms for shopping festival
Leading Chinese banks are promoting the digital yuan over Alipay and WeChat Pay for an upcoming shopping festival in China. Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay.In an April 26 report, Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of an online shopping festival on May 5.The banks are urging retail outlets and consumers to download the digital wallet and....
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Six of China’s top banks have tasked their employees with promoting digital yuan wallets to between 200 to 300 people a year. Chinese banks have begun a hard sell of digital yuan wallets, asking staff to recruit hundreds of new users each year. According to a translation of a June 6 article from Shenlian Caijing, employees of top banks such as the Industrial and Commercial Bank of China and the Bank of Communications, along with four other state-owned banks, have been instructed to promote digital yuan wallets to an average of 200 to 300 people a year. To entice new users, employees are....
The Chinese Central Bank Digital Currency (CBDC) is progressively spreading out to more users. This can be seen as 35 banks in China include the digital Yuan in their mobile apps. According to a local report, the digital RMB App reveals a recent addition of more banks to the interface. Before now, the digital app only had 6 state-owned banks. Furthermore, these added banks now have access to the digital renminbi App to recharge digital RMB wallets. The banks include city commercial banks, joint-stock firms, rural commercial banks, rural credit cooperatives, and others. Related Reading....
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....
This Saturday, the 31st of October, Berlin will be the acting grounds for the Bitfilm Festival, the Second Film Festival about Bitcoin. The Bitfilm productions organization selected Berlin for the kick-off event for the worldwide Festival Tour, which already counts with other scheduled dates and welcoming cities for the following events. The Bitfilm Festival is a showcase of films that use digital technology in a creative and innovative way. Since the year 2000, the Bitfilm Festival group has organized a series of events on the Internet and at the organization offices in Hamburg. The....
Dogecoin festival has been in the works for a while now. The festival was announced following the growing popularity of the meme coin. Now, the festival is here. Intended to bring Doge community members from all works of life to a single place to celebrate. Announcements were made for the Dogecoin festival earlier in the […]