• Home
  • Login
  • Register
The Central Bank Digital Currency Insider
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
SUBSCRIBE
No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
No Result
View All Result
The Central Bank Digital Currency Insider
No Result
View All Result

How is China’s Central Bank Challenging Alibaba and Tencent?

by CBDC Insider Staff
August 13, 2020
in Asia, Business
Reading Time: 1min read
0
How is China’s Central Bank Challenging Alibaba and Tencent?
Share on FacebookShare on Twitter

RELATED STORIES

Taiwan’s CBDC Project Needs At Least Two More Years, Says Central Bank Governor

Taiwan’s CBDC Project Needs At Least Two More Years, Says Central Bank Governor

June 30, 2022
Montran and eCurrency Announce the Very First CBDC Solution

Montran and eCurrency Announce the Very First CBDC Solution

June 30, 2022

If banks are doing “God’s work”, as Lloyd Blankfein, the former CEO of Goldman Sachs, has put it, then the tech giants in China are doing the banks’ work.
With the popularity of mobile payments in China, the Chinese tech giants, led by Alibaba Group Holding Ltd (NYSE: BABA) (SEHK: 9988) and Tencent Holdings Ltd (SEHK: 700), have disrupted the whole banking sector.
With their mobile wallets, one now can easily invest in money market products (similar to putting your money into saving deposits), buy insurance products (similar to banks’ bancassurance distribution model) and other fund products (similar to buying wealth management products in bank branches).
In this article, I’ll take a look at the highly secretive digital currency trial launched by the Chinese central bank, the People’s Bank of China (PBoC), in recent months.

Continue read: https://www.fool.hk/en/2020/08/12/how-is-chinas-central-bank-challenging-alibaba-and-tencent/

Previous Post

CryptoCentral Bank Digital Currencies: the Road to the New World Economy

Next Post

China’s Bond Data Hint PBOC Is Buying Government Debt

Next Post
China’s Bond Data Hint PBOC Is Buying Government Debt

China’s Bond Data Hint PBOC Is Buying Government Debt

© 2022 CBDC Insider

No Result
View All Result
  • Home
  • Map
  • Reading Library
  • CBDC Think Tank
  • Partners
    • DEA
  • Login
  • Register