The U.S. dollar remains the world’s de facto monetary reserve, but with China going full speed ahead with its digital yuan, the U.S. dollar faces a challenge: follow the trend, find a better alternative or risk losing its place in the world economy.
— Read on www.cnbc.com/video/2021/07/24/chinas-digital-yuan-is-gaining-traction.html
Tag: Digital Yuan
Alipay, Tencent Beware: China’s Digital Yuan Is Closing In – Bloomberg
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