Starbucks and McDonald’s are reportedly not part of the 3,000 merchants piloting China’s CBDC. American fast-food giants like Starbucks and McDonald’s are reportedly not participating in China’s ongoing digital yuan tests. According to an Oct. 14 report by news agency Sina Finance, China’s central bank digital currency, or CBDC, is still being piloted on a […]
Continue Reading
A society without paper money might be a less equitable society. Those lacking digital connectivity would suffer. In Sweden, cash in circulation represents only 1% of the country’s gross domestic product, and some experts predict the nation will go “totally cashless” by 2023. In China’s largest cities, over 90% of people use WeChat Pay and […]
Continue Reading
DeFi is the word on everybody’s lips. The hype around DeFi is not fading away and is only just beginning, said Neo founder Da Hongfei, during a live stream on China’s Hub on Sept. 25. Da said DeFi created a process in just a few years that traditional finance took hundreds of years to perfect. […]
Continue Reading
Trusple platform promises to apply blockchain, AI and IoT technology to streamline cross-border trading processes for SMEs. Ant Group, the parent company of Chinese payments giant Alipay, unveiled its new Antchain-based global trade platform for small to medium-sized enterprises, or SMEs on Sep. 25. Going by the moniker of Trusple, the platform is based around […]
Continue Reading
Unlike China, Sweden, and Canada, Australia is reluctant to issue a CBDC. While other countries may be placing central bank digital currencies — also known as CBDCs — at the top of their agenda, Australia could buck the trend. According to a local news report on Sept. 17, the Reserve Bank of Australia’s latest payments […]
Continue Reading
A look at the legal status of crypto in Asia, where new crypto hubs are emerging and thriving despite uneven regulation. When most people hear about buying Bitcoin (BTC) or other cryptocurrencies, they immediately think of the largest exchanges, most of which are located in Asia. Today, countries such as China and South Korea have […]
Continue Reading
China’s Ant Group is prepping for the largest IPO in history. Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has filed an Initial Public Offering, or IPO, in Hong Kong and Shanghai. Managed by Alibaba co-founder Jack Ma, Ant Group is targeting a valuation of about $226 billion, based on a target IPO […]
Continue Reading
China can reverse Bitcoin transactions, a Ripple exec said. The United States is losing the “technological cold war” to China due to its tough regulatory approach to blockchain and cryptocurrency-related companies, a senior executive at Ripple believes. In an opinion article for The Hill on Aug. 21, Chris Larsen, co-founder and chairman at major crypto […]
Continue Reading
Despite the interest currently surrounding the digital yuan, some are not yet sure of the project’s overall scope and mainstream viability. With the coronavirus pandemic continuing to wreak economic havoc all over the world, China’s commitment to releasing its much-hyped digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — […]
Continue Reading
Asian countries have found ways to use blockchain amid the pandemic. The Corona pandemic prompted many Asian countries to adopt blockchain technology to secure their data via the Internet against hackers and cyber thieves, according to a report from the Nikkei Asian Review. This increase in adoption comes as The Business Research Company said the […]
Continue Reading