The Industrial and Commercial Bank of China (ICBC), has now made it possible for Chinese residents to easily exchange their DCEP, the nation’s digital renminbi for fiat yuan and vice versa, at thousands of automated teller machine (ATM) locations in the country, according to a report on June 18, 2021. ICBC Introduces Digital Yuan-Cash ConversionRead More
Chinese citizens can now convert the Digital Yuan into Cash through the Industrial and Commercial Bank of China (ICBC), which has become the first bank in China to allow such transactions. The state-owned bank launched a feature on Friday 18, in partnership with the Agricultural Bank of China that will allow users to withdraw their […]
R3 and the ASEAN Financial Innovation Network (AFIN) have inked a strategic partnership deal aimed at developing a central bank digital currency (CBDCs) sandbox that would make it easier for fintech firms and traditional banks to create and test their CBDC payment solutions, according to a press release on June 15, 2021. Accelerating CBDC DevelopmentRead More
The Hong Kong Monetary Authority (HKMA) is pursuing a comprehensive fintech revamp for the city and its plans include central bank digital currencies (CBDC). However, easier access to crypto assets does not seem to be a part of the HKMA’s fintech agenda. HKMA Examines Both Retail and Wholesale CBDCs In a press release issued onRead More
ALGO price is above the 23.6% FIB retracement level of $1.04. The price is likely to test and fall below it and further below the 38.2% FIB retracement level of $1.03. Thus, as of now, the bearish trend is strong and likely to continue today and tomorrow.
The Chinese digital renminbi is officially piloted in the capital of China-Beijing. The Chinese government plans to issue a total of $6.2 million worth...
Bridgewater Associates founder and CEO Ray Dalio says Bitcoin can see traction in the years to come, but that the digital version of Yuan, China’s national fiat currency, could ‘compete’ with it.