The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient's phone number.
October 29, 2020CBDC research provides an "essential opportunity" to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.
October 28, 2020The draft law expands the PBOC's role in preventing financial risks, assigns it responsibilities to society, and provides a legal basis for its CBDC, among other changes.
October 28, 2020The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.
October 19, 2020Over 113,300 personal and 8,000 corporate digital wallets have been opened as part of the ongoing DC/EP tests, according to PBOC deputy governor Fan Yifei.
October 8, 2020Four state-owned banks and three telecom companies, along with Tencent and Alipay, are all said to be involved in the development of the digital currency.
April 20, 2020