Chinese Bank Joins Cross-Border Digital Currency Pilot Project

zA

China’s central bank will join a project to use central bank digital currencies (CBDCs) for cross-border payments, the Bank for International Settlements (BIS) said on Tuesday.

The project is currently managed by the central banks of Hong Kong and Thailand with the central bank coordination group

The People’s Bank of China’s internal CBDC project is one of the most advanced projects of its kind in the world, having conducted trials in several major cities.

CBDCs are like banknotes or coins and would give their holders a direct claim on the central bank, potentially overtaking commercial banks.Source: Reuters (Report by Alun John)

Read Additional From Source

Copyright @ www.hellenicshippingnews.com

News Highlights

  • Headline: Chinese Bank Joins Cross-Border Digital Currency Pilot Project
  • Check all news and articles from the Money news information updates about currencies.
Disclaimer: If you need to update/edit/remove this news or article then please contact our support team Learn more

For Latest Updates Follow us on Google News

Read Next News
  • Show all
  • Trending
  • Most Viewed

US intel: Saudi Crown Prince approved Khashoggi operation

The US intelligence report on the murder of Jamal Khashoggi says that Saudi Arabia's Crown Prince Mohammad bin Salman approved the operation to ...

Wells Fargo will grant paid time off for vaccine appointments: memo

In this news, we discuss the Wells Fargo will grant paid time off for vaccine appointments: memo. ...

Broadcom forecasts strong current-quarter sales on chip demand

In this news, we discuss the Broadcom forecasts strong current-quarter sales on chip demand. ...

J-K administration launches ANMOL app under national health mission

In this news, we discuss the J-K administration launches ANMOL app under national health mission. ...

Exclusive: Amid shortage U.S. suppliers to Chinese chip giant SMIC struggle to get export licenses

According to source Exclusive: Amid shortage U.S. suppliers to Chinese chip giant SMIC struggle to get export licenses so lets continue....

Oil prices rise after Saudi minister urges caution on market

In this news, we discuss the Oil prices rise after Saudi minister urges caution on market. ...

Qualcomm takes aim at Apple with line of wireless audio chips

According to source Qualcomm takes aim at Apple with line of wireless audio chips so lets continue. ...

Telangana Health Director Srinivas Rao Press Meet Over Covid Vaccination | hmtv News

Telangana Health Director Srinivas Rao Press Meet Over Covid Vaccination | hmtv News #HealthDirector #CovidVaccination #hmtvNews ▻ Watch hmtv Live ...

Show next
Bollyinside - US Local News & Breaking News Stories
Logo
Compare items
  • Total (0)
Compare
0
Shopping cart