August 2021
Chinese central bank shows no sign of softening stance on crypto
People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.
July 2021
Chinese electricity bills to become payable using digital yuan
A digital yuan wallet app launched by China’s central bank will include an electricity bill payment feature designed by the country’s State Grid, according to Economic Information Daily, a local financial media outlet. Fast facts Users will be able to pay their electricity bills through the digital yuan app directly and do not need to […]
China Mobile discloses virtual currency system patent, joins e-CNY team
China’s largest telecommunications company, China Mobile, has disclosed a patent on a virtual currency management system that can prevent the theft of hot-wallet keys. Fast facts The system achieves theft-prevention by separating the hot-wallet server interacting directly with a public data server via a system wallet server. The patent disclosure shows that China Mobile filed […]
China’s digital yuan moves a step closer with smart-contract technology
Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.
BIS: cooperation essential for CBDCs to improve cross-border payments
In a new report, BIS says countries must work together and design CBDCs with interoperability in mind. Hong Kong and Singapore lead mCBDC efforts.
Hong Kong CBDC project looks to commercialize for cross-border payments
Eddie Yue, CEO of Hong Kong Monetary Authority lays out the future of the territory’s digital currency at a Hong Kong Academy of Finance event.
June 2021
Chinese cities roll out digital yuan to public transport networks
Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.
Special Series, Part 3: Digital dragons and digital dollars
In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
Singapore central bank joins IMF, World Bank to push state digital currencies
The Monetary Authority of Singapore is inviting proposals for retail central bank digital currency innovations to improve payment services.
Special Series, Part 2: China lays digital groundwork for a new Silk Road
How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.
China sets out stall with digital yuan. Here comes the sales pitch
Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.
Palestine looks to launch central bank digital currency
Following Israel’s recent tests of a digital shekel, the Palestinian Monetary Authority is looking to launch its own central bank digital currency.
Israeli central bank tests digital shekel using Ethereum
The Bank of Israel is testing its central bank digital currency, the digital Shekel, in a private permissioned ecosystem using Ethereum.
What lies ahead for CBDCs, Bitcoin and other digital currencies?
In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?
French central bank, SEBA Bank wrap CBDC securities settlement test
France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.
Cash for CBDCs at Beijing ATMs; Asia sees new unicorn in Amber Group | The Daily Forkast
CBDC ATMs appear around Beijing and Hong Kong-based Amber Group is Asia’s billion dollar unicorn after raising US$100 million in its Series B.
Over 3,000 ATMs in Beijing now support digital yuan withdrawals
Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media. Over 3,000 ATMs in Beijing managed by ICBC […]
As Shanghai gives away digital yuan, we hit the streets with a man spending it
Money may be easy to part with when it’s free, but as Shanghai’s first experimental e-CNY giveaway shows, it’s not so easy finding shops to take it.
How Singapore and Cambodia see digital currencies for cross-border use
In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.
R3 and ASEAN network partner on CBDC sandbox for banks and fintechs
The ASEAN Financial Innovation Network (AFIN) is partnering with enterprise software firm R3 on a central bank digital currency (CBDC) sandbox.
China reveals e-CNY wallet specifications
China’s central bank has unveiled four specifications of digital wallets for the country’s state-issued digital currency, the e-CNY.
BIS, Swiss and French central banks team up for CBDC Project Jura
The BIS, together with the central banks of France and Switzerland, are collaborating on a wholesale central bank digital currency experiment for cross-border settlements.
Hong Kong eyes CBDC; Aussie Millennials favor crypto vs. real estate | The Daily Forkast
Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.
Beijing Winter Olympics vendors begin to accept digital yuan
Shijingshan, a site for the upcoming Winter Olympics, has started supporting payments made using the state digital money, known as e-CNY.
Hong Kong eyes digital currency as part of new fintech plan
Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.
Beijing looks to boost blockchain, create industry champions
China has released guidelines aimed at boosting the country’s blockchain development.
Shanghai in US$3M e-CNY windfall ahead of Dragon Boat holiday
Following a digital yuan giveaway announced for Beijing last week, Shanghai will distribute 350,000 red envelopes to people across the city during next week’s Dragon Boat Festival.
Regulators in Hainan warn of illegal crypto fundraising schemes
Regulators Hainan province have issued a warning against illegal fundraising schemes using crypto or blockchain..
China to give away digital yuan worth US$6.3M in latest e-CNY test
China is set to hand out 200,000 virtual red envelopes, each containing 200 yuan (US$31.30) of the country’s prototype digital currency, to Beijing residents.
May 2021
Digital yuan is not a surveillance tool, says Chinese ex-central bank director
Former People’s Bank of China Director Yao Qian says that the country’s digital yuan is not a surveillance tool for the government.
Will China become the new digital currency superpower?
The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?
Digital currencies gain ground as governments launch CBDC initiatives
Cashless payment methods are on the rise as governments step up central bank digital currencies (CBDCs) initiatives.
Crypto market rebound as investors go green; Indonesia plans CBDC | The Daily Forkast
Investors are turning to green alternatives to tackle Bitcoin’s impact on the environment as Indonesia gears up for a CBDC.
Indonesia to launch digital rupiah as online payments soar
Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.
South Korea forges ahead on its digital currency development
Kicking the digital won’s development into higher gear, Bank of Korea is calling for bids to be a technology supplier for its digital currency (CBDC) project.
Digital dollar’s values to fortify USD hegemony, says ex-CFTC chair
Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.
Will Singapore launch a people’s digital currency — and support DeFi?
As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.
India’s demand for crypto ‘growing like crazy’ since ban attempt
It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.
US dollar dominance waning as CBDCs enter global spotlight
Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?
ICP takes crypto world by storm. Will Ethereum be the next Bitcoin? Goldman Sachs launches crypto trading desk.
Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.
BCH gets the nod from Japan; Digital yuan travels to the countryside | The Daily Forkast
While Bitcoin Cash surges, we visit a Japanese coffee shop owner who just started accepting BCH as payment.
April 2021
Internet giants JD.com and Ant Group deepen support for China’s digital yuan
China intensifies its nationwide digital currency testing via JD.com paying employee salaries in digital yuan and Ant Group’s MYbank offering e-yuan services.
Ant Group shares exclusive database tech to grow China’s CBDC | The Daily Forkast
China’s internet giant Ant Group shares its OceanBase database for the e-CNY project. More investors try out DeFi platform PancakeSwap.
5 reasons why CBDCs and Facebook-backed Diem go hand-in-hand
When Diem launches and central banks roll out digital currencies, what role will each play? Here is a look at the world’s financial and payments future.
How China’s DCEP digital yuan could reshape geopolitics and change the world
One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?
One year after China began testing its digital yuan, China watchers wonder how close it is to launching?
Look for nifty DCEP wallets to make a debut at the 2022 Beijing Olympics
Dogecoin swells over 80% in Asia hours; China’s CBDC pilots turn one
Billionaires Elon Musk and Mark Cuban are behind the 8th largest crypto Dogecoin. Meanwhile, it’s the one-year anniversary of DCEP pilots.
Macao considers e-CNY rollout; kimchi premium arbitrage on the rise | The Daily Forkast
Macao jumps into digital yuan feasibility studies while South Korean banks make moves to curb kimchi premium arbitrage.
Japan explores digital currency but is loathe to commit
Despite launching CBDC research, Bank of Japan is still not sure nation needs digital yen. Experts fear the caution could cost Japan its competitive edge.
IMF wants more crypto supervision in the Philippines | The Daily Forkast
IMF warns issues warnings against crypto exchanges in the Philippines as China extends tests of its digital yuan to its free trade zone, Hainan Province.
Filecoin’s crypto top 10 stint. Coinbase wows with earnings for Nasdaq debut. Japan opens door to CBDC.
Other top blockchain and cryptocurrency news: Hong Kong is new test bed for China’s e-CNY digital currency. Decentraland’s token bridge to Polygon.
March 2021
World’s central banks come together to collaborate on CBDCs
As the world increasingly turns to Bitcoin, stablecoins and other cryptocurrencies, a brain trust of central bankers want to take back control.
Hong Kong now exploring retail CBDC in upcoming Project Aurum
Hong Kong Monetary Authority intensifies its CBDC efforts with a new study into ‘hybrid’ digital currencies and private CBDC-backed stablecoins.
Fed Chair Powell calls Bitcoin ‘speculative,’ says US not in CBDC rush
Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.
Ripple recasts embattled XRP as a ‘bridge’ currency for CBDCs
As XRP holders step closer to intervening in SEC’s lawsuit against Ripple, the payment platform gears up to grow its CBDC business with a new white paper.
Japan to start digital yen tests as CBDCs gain momentum across Asia
As central banks in China, Korea, Hong Kong and Thailand ramp up CBDC efforts, Bank of Japan is now planning a proof of concept for a digital currency.
Are bitcoin ETFs coming soon to America? Korea’s Shinhan Bank joins CBDC pilot. Argo seeks greener crypto pastures in Texas.
Other top blockchain and cryptocurrency news: As China tightens vise on crypto, Beijing to host 60-artist crypto art exhibition featuring NFT superstar Beeple.
Jack Dorsey cashing in on NFT frenzy. Ripple turns to CBDCs amid XRP’s legal troubles. Is India rethinking a crypto ban?
Other top blockchain and cryptocurrency news: Ethereum takes up with Amazon, plans gas fee changes. China likely to increase blockchain spending.
Does India have room for both bitcoin and a CBDC?
As debate rages over whether India should ban private cryptos in favor of a central bank digital currency, a case could be made that India needs both.
China’s DCEP project launches biggest digital yuan test yet
As China widens the e-CNY’s testing to Chengdu, the future of WeChat Pay and Alipay becomes complicated. What are the new CBDC’s pros and cons?
February 2021
4 central banks and BIS exploring CBDC bridge for Asia and Middle East
China, UAE, Hong Kong, Thailand and Bank for International Settlements collaborate on ‘m-CBDC Bridge’ digital currency project for cross-border payments.
Bitfinex, Tether banned in New York. No end yet to Ripple XRP’s SEC lawsuit woes. CBDC bridge for Asia and Middle East.
Other top blockchain and crypto news: Bill Gates on bitcoin. Nvidia protects gamers from crypto miners with separate CMP and GeForce RTX graphics cards.
Will India be left behind in the digital currency race?
India is moving toward banning all cryptocurrency and creating a state-backed digital rupee. But Tesla’s big bitcoin buy-in may be giving lawmakers pause.
Tesla drives bitcoin to the moon. Ripple XRP finds love in Japan. First Boulevard partners with Visa.
Other top blockchain and crypto news: ETH hits new high with CME Ethereum futures. DeFi yawns at YFI attack. China steps up DCEP digital yuan tests.
GameStop sinks as ETH hits all-time high. Ray Dalio weighs in on crypto. Elon Musk, bitcoin’s new warrior.
Other top blockchain and cryptocurrency news: India pushes CBDC and proposes banning crypto. Korea’s DeFi future. How does Bitmain’s drama end?
January 2021
Tether prosecution delayed again. Bitcoin’s false ‘double-spend’ rumors. Brave sends 24 million users to Web 3.0 via IPFS.
Other top blockchain and cryptocurrency news: BIS touts digital currencies. China’s blockchain network to add CBDCs as payment option.
Bitcoin and other crypto trends to watch in 2021
How high will bitcoin prices go — and will 2021 be the year of the bitcoin ETF and advanced crypto derivatives? Jay Hao of OKEx looks to the future.
China’s blockchain network adds CBDC payment layer, ConsenSys as partner
BSN’s new digital payment network will be a boon to Ethereum, stablecoins and CBDCs like China’s DCEP digital yuan while keeping other cryptos out.
China’s DCEP digital yuan wraps up another mass test
Now renamed e-CNY, China’s new digital yuan has now been tested by 250,000 shoppers in two cities. Is it finally close to launch?
OKEx’s Jay Hao expects ‘more amazing developments from DeFi’ in 2021
OKEx CEO speaks candidly on how 2020 was difficult for his crypto exchange, and offers his predictions for DeFi, regulations and CBDCs in year to come.
China tests new phone-free DCEP e-RMB card for helping rural poor
As China presses its digital currency closer to launch, a Shanghai test reveals features aimed at the 700 million Chinese without mobile phones or the internet.
Bitcoin and ethereum prices roar into new year. Ripple XRP fans petition White House for mercy from SEC charges.
Other top blockchain and cryptocurrency news: China intensifies DCEP digital currency testing while Russia, Ukraine and Turkey join global CBDC race.