数字人民币 · 747

The People's Bank of China adds 8 new digital yuan business operators

Comparatively, in order to implement the decisions and arrangements of the “15th Five-Year Plan” on “the steady development of digital yuan”, further enhance the inclusiveness of digital yuan services, and continuously respond to the public's demand for safe, convenient and efficient digital yuan services, the People's Bank of China added Ping An Bank, Hang Fung Bank, Bohai Bank, Bank of Shanghai, Bank of Hangzhou, Huishang Bank, Bank of Changsha, and Guangxi Beibu Bay Bank to become bank-type digital yuan business operators and connected to the central bank-side digital yuan system. The new institutions will launch the digital yuan business after completing business and technical preparations. Currently, the number of digital yuan business operators has been expanded to 30. In the next step, the People's Bank of China will promote the expansion of operating institutions in an orderly manner in accordance with the principles of marketization and rule of law, further stimulate the enthusiasm and creativity of market players, and build an open, inclusive, and fair competitive digital yuan development environment.

5d ago

The Central Bank of China clearly proposed the steady development of the digital yuan in the “15th Five-Year Plan”

Comparatively, the People's Bank of China proposed in the “15th Five-Year Plan for Reform and Development of the People's Bank of China” that it is necessary to optimize financial infrastructure and central bank service systems, improve payment, treasury, and cash services, steadily develop the digital yuan, promote high-quality development of the credit reporting industry and strengthen anti-money laundering supervision to support the construction of a strong financial nation and high-quality economic development. Strengthen the governance foundation for the central bank to carry out its duties, and comprehensively promote the construction of a central bank governed by the rule of law and a digital central bank.

12d ago

Guangdong plans to expand digital yuan application scenarios and promote the expansion of cross-border payment pilots

Comparative news, according to a report by Jin Shi, Guangdong Province publicly solicited the “15th Five-Year Plan for the Development of the China (Guangdong) Pilot Free Trade Zone (Draft for Comments)”, which plans to expand financial openness in an orderly manner and promote pilot expansion such as cross-border digital yuan payments. The plan mentions supporting international financial institutions to set up headquarters, promoting innovative businesses such as cross-border finance and green finance, and deepening pilot projects such as cross-border credit asset transfers.

16d ago

The central bank emphasizes deepening financial reform and opening up to the outside world, and supports overseas institutions to participate in the issuance of panda bonds

Comparative news, according to Jin Shi's report, the People's Bank of China held a working meeting in the second half of 2026, which emphasized the steady deepening of financial reform and opening up to the outside world. The conference pointed out that currency swaps and local currency settlement cooperation between central banks will be actively carried out, more overseas institutions will be supported to participate in the issuance of panda bonds, and the construction of a RMB cross-border payment system will be promoted, and the digital yuan cross-border infrastructure will be improved.

20d ago

ICBC launched the country's first new digital yuan cross-border payment on the “Digital Currency Express” platform, amounting to nearly 10 million yuan

Comparatively, the Shanghai branch of ICBC joined forces with ICBC's Singapore branch to successfully launch the country's first digital renminbi cross-border payment business between China and Singapore based on the integrated digital renminbi cross-border settlement service platform “CBETS” (CBETS). The full import shipping fee of nearly 10 million yuan was paid through digital yuan. The funds arrived in the Singapore payee's account on the same day, achieving “zero time difference” and “high transparency” in cross-border capital flows. The target of the service is a trading platform subsidiary of a central enterprise group. On a daily basis, they need to purchase iron ore from abroad and pay shipping charges. Cross-border settlements are frequent and expensive. “Digital Currency Delivery” is a cross-border settlement infrastructure built by the Digital Yuan International Operation Center under the guidance of the Digital Currency Research Institute of the People's Bank of China. Overseas participants can set up business with “one-point access” through Hong Kong access points. It is compatible with centralized and blockchain systems, and the message standards are in line with ISO20022. On June 16, 2026, the first batch of 26 financial institutions signed direct participant service agreements. This business marks a landmark breakthrough in ICBC's integrated cross-border settlement system, which relies on the digital yuan international operation center infrastructure to open up domestic and foreign branches. Since then, ICBC has achieved full coverage of two-way digital yuan payment business with Singapore and Laos.

29d ago

10x Research: Bitcoin's real investment logic may lie in space infrastructure and decentralized computing

Comparing news, 10x Research released a report saying that the market generally believes that the core value of Bitcoin is to counter currency depreciation, but this is not its real investment logic. According to the report, the core limitations faced by decentralized currencies are not monetary policy, but physical conditions, including energy, cooling, and geographical jurisdiction restrictions. The report points out that with the development of space infrastructure, the thermal, power, and geographical restrictions faced by data centers may be mitigated in the orbital environment. The link between SpaceX, Starlink, and Bitcoin may represent a long-term layout around future infrastructure construction. 10x Research believes that technologies such as satellites, cryptography, and artificial intelligence can both promote decentralization of power and strengthen resource concentration, and the world is competing for two infrastructure systems. The report also compared Bitcoin with China's digital yuan, arguing that the two represent digital infrastructure paths in different directions, and points out that as the population gradually moves away from traditional network systems, the business models of companies such as Palantir may also be affected.

43d ago

From Liberty Banks to Stablecoins: Money's Reputation Dilemma

Source: Token Dispatch Author: Thejaswini M A Compiled by: Block Unicorn Original title: The quality of the currency depends on the issuer's reputation In 1840, a store owner placed a book of accounts under the counter. When you pay with banknotes, he takes out his books and checks how much your money was worth for the day. Ten dollar notes issued by the Bank of Cincinnati are not worth ten dollars everywhere. Maybe it's only worth nine dollars. Its value can vary widely. If the bank goes out of business and the news hasn't reached his county, it might even be worth nothing. The most famous book of this type comes from Philadelphia and is called “Bicknell Counterfeit Money Detector”. It's actually a currency price list, printed in order, because the value of one dollar changes according to the name printed on the banknote. Source: Library of Congress; printed $25 note with a bust of George Washington on the note. This is America between 1837 and 1863. Any bank with a state government license can print its own banknotes, and obtaining a license is also very easy. Michigan pioneered this in 1837, making it possible to open a bank with almost no conditions or approval from the legislature. Thousands of different banknotes circulate all over the country at the same time. Roughly one-third of the banknotes in circulation are completely counterfeit. Each note represents a gamble against the issuing bank. This system collapsed during the Civil War, when the government printed a unified dollar, partly to raise money for the war, but more importantly, trusting that 8,000 private banknotes had exhausted the country's funds. On June 22, the Senate passed the 21st Century Housing Pathways Act by an overwhelming majority (85 votes in favor and 5 against), and the House of Representatives passed the bill the next day. Hidden in this housing bill is a provision prohibiting the Federal Reserve from issuing a central bank digital currency (CBDC) until 2030. That's why we want to look back and unravel the specter of the Liberty Banking era. The dollar balance in your Venmo account is promised to you by the bank, and if the bank goes out of business, your money is at risk of being beyond the coverage of the Federal Deposit Insurance Corporation (FDIC). Central bank digital currencies (CBDCs), on the other hand, bypass banks and allow holders to directly hold national currencies in digital form. The Senate rejected this proposal for two reasons. The digital dollar issued by the government can track every penny you spend and can freeze your wallet at any time, just like the Chinese digital yuan. Second, banks are strongly opposed because funds directly held at the Federal Reserve will never enter their deposit accounts. They will lose the floating capital they need to survive. Now, even the people who wrote and signed seem unsure about what they want to sign. On June 24, just one hour before the signing ceremony began, Trump called off the ceremony and asked to pass a voter identification bill that had already been vetoed by the Senate. But it is likely that this ban will eventually become law. Well, the government won't issue digital dollars. At the same time, however, it handed over the work to a private company. This meant that the old ways of 1840 were back. Even after the GENIUS Act was signed in July 2025, the current regulatory focus is still mainly on the quality of reserves rather than strict entry barriers. More than a dozen companies are lining up to apply for concessions in order to issue their own dollars. Every fintech company wants to have its own branded currency. The current market size is approximately $312 billion. Tether's USDT and Circle's USDC account for about 80% of them. There are also PayPal's PYUSD, Ripple's RLUSD, and Paxos's white-label tokens for anyone in need. They all repeat what the Bank of Cincinnati said: Trust us, they're guaranteed. It's not 1840, and Kim Carey is still trying to prove she's not a clone of herself. We don't believe everything, do we? This is both a good thing and a bad thing. It is this distrust that motivates issuers to come up with evidence to prove their reliability, and at the same time make them expect the market to remain shallow, because a group of people who doubt everything but never verify any facts are the easiest group for you to hand over money to. An illegal bank claims that its notes are backed by silver in its treasury. However, so-called vaults are often just a bucket of nails, hidden deep in the woods and cannot be touched by any inspector. Stablecoins are...

45d ago章鱼烧#USDC #USDT #stablecoins

The draft revision of the People's Bank of China Law intends to clarify the legal status of the digital yuan

Comparatively, the “People's Republic of China Law on the People's Bank of China (Revision Draft)” was submitted to the 23rd session of the 14th National People's Congress Standing Committee for first review on June 23, 2026. Among them, “clarifying the legal status of the digital yuan” was included in the revised draft for the first time. According to the report, the draft for solicitation of comments issued in 2020 only proposed “the RMB includes physical form and digital form.” However, this revision has further enhanced the legal position of the digital yuan. In addition, the 2020 Draft for Solicitation of Comments also stipulated that no organization or individual may produce or sell token tickets or digital tokens to circulate in the market instead of RMB. For related offenses, the People's Bank of China has the power to order the cessation or destruction of illegally produced or sold tokens, vouchers and digital tokens, confiscate illegal proceeds, and impose a fine of not more than five times the illegal amount. (Caixin)

59d ago

Central Bank: Build and operate digital yuan cross-border, offshore and blockchain infrastructure under a secure and controllable premise

Comparatively, the People's Bank of China, the National Development and Reform Commission, the General Administration of Financial Supervision, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and the Shanghai Municipal People's Government issued the “Shanghai International Financial Center Action Plan for the Development of Offshore Finance”, which states that relying on the digital yuan international operation center, the construction and operation of digital yuan cross-border, offshore and blockchain infrastructure under the premise of being safe and controllable, steadily promote connectivity with overseas financial infrastructure, and steadily promote the expansion of digital yuan applications and scenarios in offshore business.

63d ago

Digital RMB International Operation Center upgrades three major platforms, including blockchain services and digital assets, to “Digital Currency Delivery”

Comparatively, the Digital Yuan International Operation Center announced that with the adjustment of the digital yuan measurement framework and the overall infrastructure system upgrade, the three major business platforms, including the digital yuan cross-border digital payment platform, blockchain service platform, and digital asset platform, have been upgraded to a “digital yuan” cross-border settlement integrated service platform (CBETS), and has now signed direct participant service agreements with the first batch of 26 financial institutions.

66d ago