Hong Kong’s banking system recorded a broad increase in deposits in April, with renminbi deposits rising mainly on corporate fund flows even as cross-border trade settlement remittances declined from the previous month. Total deposits with authorized institutions increased by 1.5% in April, according to statistics… Read More
Read more in: Asia | Tagged hong kong, hong kong monetary authority, renminbi
Eswar Prasad, professor of Trade Policy at Cornell University and senior fellow at the Brookings Institution, acknowledges that the Chinese digital yuan will improve the nation currency’s role as an international payment method. However, he clarified that it will “hardly put a dent” in the… Read More
Read more in: Asia, Blockchain & Digital Assets, Opinion | Tagged cbdc, cbdcs, central bank digital currency, china, chinese yuan, cornell university, digital currency, digital yuan, eswar prasad, pboc, peoples bank of china, renminbi, us dollar, virtual currency, virtual yuan
The Bank of China’s somewhat secretive digital currency pilot program has made many people quite curious. The bank recently provided an official explanation of how the virtual yuan or renminbi was being tested and how it might work if and when it is launched. A… Read More
Read more in: Asia, Blockchain & Digital Assets | Tagged bank of china, cbdcs, central bank digital currency, china, digital currency, digital yuan, peoples bank of china, renminbi, virtual currency, yuan
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