Digital RMB already has the capability of cross-border payment, is low-cost, and can achieve real-time settlement. It has significant advantages compared with traditional fund payment systems that are higher in cost and less efficient.
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AlexStandard Chartered Bank's imminent participation in China's digital yuan pilot project signifies the growing global interest in digital currencies. As a pioneer in this venture, the bank anticipates a wide array of applications for the digital yuan in international trade and finance.
Huang BoBetween January and June 2023, individuals and companies in Hunan Province have effectively utilized the digital yuan to settle a total of $51.3 million in taxes, spanning 794 transactions.
CaptainXChinese firms stand out as some of the most active buyers in the global commodities market, and officials believe that the incorporation of the digital yuan in clearing houses will enhance the security of cross-border settlements for bulk commodities.
Coinlive The China Merchants Bank, in collaboration with the Civil Aviation Administration Clearing Center, has launched an e-CNY platform enabling companies and entrepreneurs to pay for business air tickets using the digital yuan.
Coinlive WeChat, a popular app in China, has integrated the digital Yuan into the platform.
BitcoinistThe Digital Assets (Market Regulation) Bill 2022 also lays down disclosure rules for Australian e-yuan facilitators.
BeincryptoThree Republican senators introduced a bill to protect Americans from the "Authoritarian Digital Currencies Act."
CointelegraphWith the support and guidance of relevant departments and the Xi'an Branch of the People's Bank of China, various pilot operating agencies continue to optimize the digital RMB acceptance environment. Xi'an has initially established a digital RMB ecosystem with both application scenarios and consumer groups.
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