Tagged: icbc

CBDCs: Chinese Banks Introduce Central Bank Digital Currency Hardware Prototypes for Multiple Applications

Chinese banking institutions have introduced central bank digital currency (CBDC) hardware prototypes for several different use cases. The People’s Bank of China (PBoC), the nation’s central bank, and the Industrial and Commercial Bank of China (ICBC) have introduced prototype hardware devices that aim to offer support… Read More

Blockchain Adoption: Nearly All of China’s Largest Financial Institutions are Using Distributed Ledger Technology

Over 70 Chinese financial services companies, including all state-managed banking institutions and the nation’s largest technology firms, are currently using some type of blockchain or distributed ledger technology (DLT)-enabled financial applications. This, according to the Industrial and Commercial Bank of China (ICBC), a multinational Chinese… Read More

China Experiences a Surge in Internet Banking

Data published by the China Banking Association indicates a “surge” in internet banking.  According to a report in ECNS, individuals using online banking services has hit 909 million – an increase of 150 million compared to the year prior. Financial transactions totaled an astounding 60.85… Read More