Category: tencent

China’s digital yuan is backup to AliPay and WeChat Pay, says official

March 26, 2021

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Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. 4501 Total views 25 Total shares China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank […]

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China’s CBDC is about domestic dominance, not beating the dollar

February 26, 2021

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For the past several years, the trade war between China and the U.S. has been at the center of international relations, with technology playing an outsized role. Within crypto, advancing interest in central bank digital currencies has become part of that narrative of geopolitical competition. Many have framed the development of CBDCs in China and […]

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Ant-backed MYbank to help China expand digital yuan trial

February 22, 2021

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Tencent-backed WeBank and Ant Financial-backed MYbank will reportedly be the first private banks to join China’s digital yuan pilot. 8208 Total views 29 Total shares China’s central bank is pushing exposure to its ongoing national digital currency pilot by enlisting two major private banks in the project. According to a Monday Bloomberg report, MYbank and […]

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Bitcoin price quickly rebounds to reach $41,000 as market cap passes Tencent

January 8, 2021

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Bitcoin even goes beyond Tesla’s market cap for a short time as bulls suggest the upward momentum is not done at $40,000. 20005 Total views 219 Total shares Bitcoin (BTC) returned to $40,000 on Jan. 8 as another price consolidation period ended characteristically briefly. Cryptocurrency market overview. Source: Coin360 Data from Cointelegraph Markets, Coin360 and […]

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