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The Guangzhou Housing Provident Fund Management Center has successfully implemented the usage of the Chinese version of the Central Bank Digital Currency (CBDC), commonly known as the digital Yuan, for housing provident fund loans. (Read More)
JPMorgan’s strategists have explained that even if China overtakes the U.S. as the world’s largest economy around 2030, the U.S. dollar may remain the world’s dominant currency for the rest of the 21st century. The global investment bank cited the historical experience of when the U.S. overtook Great Britain as the world’s largest economy. JPMorgan [...]
The post JPMorgan Expects Dollar Dominance to Persist Even if China Overtakes US as World’s Largest Economy appeared first on Crypto Breaking News.
An economist, who previously worked at the Bank for International Settlements (BIS), has provided insights on the possibility of a BRICS currency coexisting with the U.S. dollar. Noting that China is a major trading partner of all BRICS nations, he suggested: “Pegging to the renminbi and aligning their bilateral exchange rates would be the first
The post Economist Discusses Viability of BRICS Currency — Says Pegging to Chinese Yuan Would Be ‘First Major Step’ appeared first on BTC Ethereum Crypto Currency Blog.
The state-owned financial institution Bank of China has revealed a partnership with China Unicom and China Telecom in order to test SIM cards and near-field communication (NFC) payments tethered to the renminbi. The Bank of China explains that the pilot will be tested by selected users and areas and it currently only supports Android phones.
The post Bank of China Expands Digital Yuan Testing to SIM Cards and NFC Payments appeared first on BTC Ethereum Crypto Currency Blog.
Economist Nouriel Roubini, also known as “Dr. Doom,” predicts that the global reserve currency system will shift from unipolar to bipolar. He expects most countries that attempt to reduce their reliance on the U.S. dollar to propose the Chinese yuan as an alternative to the USD. Roubini on U.S. Dollar and Chinese Yuan as Global [...]
The post Roubini: We’re Shifting to ‘Bipolar’ Global Reserve Currency System With Chinese Yuan as Alternative to US Dollar appeared first on Crypto Breaking News.
China may have banned the use of cryptocurrencies, but stablecoins might have a role to play in the proliferation of its national currency.
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