• Home
  • Login
  • Register
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
SUBSCRIBE
No Result
View All Result
Currency Insider
  • Home
  • Reading Library
  • CBDC Think Tank
Currency Insider
No Result
View All Result

China Not Planning to Replace Global Fiat with Digital Yuan

by CBDC Insider
December 16, 2020
in Asia, Business
Reading Time: 1min read
0
China Not Planning to Replace Global Fiat with Digital Yuan
Share on FacebookShare on Twitter

He added that while the digital yuan may see a use case for investments or trading, it isn’t meant to replace or challenge the US Dollar and the Euro.

Local media outlet Global Times reported the news on Sunday, December 13. While a number countries have begun exploring and developing central bank digital currencies, China’s efforts represent the most advanced effort to date from a major nation, with the potential to be used by billions of people.

The residents of the country actively participated in the trial of its digital currency in Suzhou, a city in East China’s Jiangsu Province and the largest online payment reportedly surpassed 10,000 Yua 80% of the participants for the trial were made by the younger generation who were born between 1980-1990.

RELATED STORIES

China’s Jiangsu Province to Expand Digital Yuan Adoption in Education Sector

China’s Jiangsu Province to Expand Digital Yuan Adoption in Education Sector

May 15, 2023
Reltime Unveils Revolutionary Wrapped FIAT and CBDC Service Set to Transform Global Financial Landscape

Reltime Unveils Revolutionary Wrapped FIAT and CBDC Service Set to Transform Global Financial Landscape

May 15, 2023

The fintech subsidiary of the platform, JD Digits, confirmed that transactions with the digital currency were faster. Almost 80% of the transactions were made by the younger generation of post-80s and 90s. In the latest development, close to 20,000 transactions were paid for with Digital Yuan within 24 hours through e-commerce company JD.com as it conducted a real-world trial.

Read more: https://clicklancashire.com/2020/12/15/china-not-planning-to-replace-global-fiat-with-digital-yuan.html

Previous Post

Major Italian Bank Adds Crypto Wallet Service

Next Post

Suzhou Residents Make 20,000 Digital Yuan Transactions on Double 12

Next Post
Suzhou Residents Make 20,000 Digital Yuan Transactions on Double 12

Suzhou Residents Make 20,000 Digital Yuan Transactions on Double 12

© 2022 CBDC Insider

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