Peoples Bank of China – Page 13

China debuts blockchain-based digital yuan salary payments in Xiong’an

China reportedly implemented the country’s first blockchain-powered digital yuan transactions in the Xiong’an New Area.

The first phase of tests for use of the digital yuan across borders has been successful, the Hong Kong Monetary Authority has said.

China, the world’s most populous country, has jumped leaps and bounds in comparison to a great number of other countries when it comes to the

CBDC tests are proceeding toward deployment, as Chinese internet, fintech and e-commerce giants are leading the digital yuan vanguard.

Major tech and commerce firms have been instrumental in helping China’s central bank develop the digital yuan.

It’s not entirely clear when Terence Zeng assumed his leadership role, though the appointment appears to have been recent.