Chinese billionaires Jack Ma and Pony Ma, who built their online finance empires by dominating the country’s online payments industry, are facing what could be the strongest competitor yet: the central bank.The People’s Bank of China is set to provide its own electronic version of the yuan soon, potentially the first major central bank in the world to issue a digital national currency. In doing so, the PBOC is throwing down the gauntlet to Ant Financial’s Alipay and Tencent Holdings Ltd.’s WeCha
— Read on www.bloomberg.com/news/articles/2019-10-24/alipay-tencent-beware-china-s-digital-yuan-is-closing-in
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