Chinese state-owned banks have emerged as an unexpected source of possible support for the influx of cryptocurrency businesses into Hong Kong after the city granted access to the beaten-down industry. Moreover, Chinese banks have been reaching out to crypto firms directly over the last few months, adding to indications that
According to reports in local media, China’s central bank digital currency (CBDC) is now accepted as payment on the country’s most popular social networking and payment app, WeChat. The initiative’s stated goal is to increase the digital yuan’s popularity. After Alipay, WeChat is now the second payment platform to implement
China has announced the launch of a new research centre that will focus on blockchain technology, despite the country’s rocky history with cryptocurrencies. The National Blockchain Technology Innovation Centre in China has received approval from the Ministry of Science and Technology. According to South China Morning Post, the primary goals
Over the Lunar New Year period, the Chinese Central Bank distributed CBDC worth millions of dollars around the nation. Around 200 events for the e-CNY were introduced around the nation during the holiday season. This is according to a report in the Global Times which is an English-language arm of
After a crackdown on cryptocurrency trading and mining in the middle of 2021, Tron founder Justin Sun claimed Monday that China is plotting a return to the sector. With the introduction of a tax on crypto transactions, China has taken a major step toward cryptocurrency regulation. Justin Sun is unwavering
China blames the United States for crippling other nations with their debt. With a soaring $31.5 trillion debt – the new all-time high statutory debt ceiling, the United States is at the epicenter of accusations. One among those is China’s blast off against the US for “sabotaging” other nations’ measures.
Jack Ma, co-founder, and CEO of Alibaba, is stepping down as chairman of Ant Group, a Chinese financial technology behemoth. The billionaire’s exit from the fintech behemoth was approved by a vote of the company’s shareholders, according to Reuters. Moreover, a $37 billion IPO by Ant Group in Hong Kong
For the better part of two years, NFTs have been widely used by Chinese traders, but maybe not in the same manner as elsewhere. In China, NFTs are called digital collectibles instead of NFTs and cannot be bought with cryptocurrencies due to local regulations. China was among the pioneering countries
It is typical for every country to celebrate their own traditional new year in the year. Similarly, Chinese celebrate “Lunar New Year” in their country. The Chinese have a tradition of giving money as gifts to their friends and family members called, “Red packets”. Basically in China, it is popularly
Zhejiang, a Chinese coastal province, to become one of the largest metaverse hubs in the country. According to a recent Chinese report, Zhejiang is eyeing to build a metaverse industry in its territory. The project is estimated to cost more than $28.7 billion by the year 2025. The latest move
