Bank of China Accentuates Urgent Need for CBDC Amidst the Pandemic

2021-1-22 17:00

According to a statement by Guo Weimin, Bank of China’s chief scientist, the economic turmoil caused by the pandemic is one of the reasons why Chinese corporations should urgently shift to the use of digital currencies, stating: “There will be a lot of challenges from the pandemic that will make good cases for the useRead More

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pandemic bank china stating digital urgently shift

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Источник: btcmanager.com

pandemic bank → Результатов: 42

Bank of America: Inflation Replaces Covid-19 As Investors’ Worst Nightmare

According to the latest monthly survey by Bank of America, the coronavirus pandemic is no longer the most significant tail risk for investors. The pandemic seems to have been replaced with soaring inflation, which has become the market’s biggest worry.

2021-3-18 03:57	Bitcoin News
pandemic bank investors inflation america risk replaced

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BIS Calls for Central Bank Digital Currencies Amid Coronavirus Pandemic

‘The central bank of central banks’ is advocating for the development of CBDCs amid the coronavirus pandemic

2020-4-5 07:00
central pandemic amid coronavirus bank advocating development

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Coronavirus Pandemic Results in First State Bank Failure

The coronavirus crisis continues to make its mark on the financial sector. It was a matter of time until the first bank failed because of it, which has now happened in West Virginia. Most people seem to ignore how the global financial system has been broken for many years now.

2020-4-5 00:30	Coronavirus
financial coronavirus bank seem ignore people virginia

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Govt’s May Accelerate Digital Payment And CBDC Research Due to COVID-19: Bank of International Statements (BIS)

Bank of International Statements (BIS) recently released a research report on the effect of the COVID-19 pandemic to the overall payment system. According to the research, the virus is causing fear and uncertainty as physical cash sees a dip in usage in favor of digital payments.

2020-4-5 16:28	CBDC
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COVID-19 Pandemic Could Speed Up Central Bank Crypto Adoption

The COVID-19 pandemic will bring the end of cash and speed up the adoption of digital banking services, including central bank crypto, according to Edwin Bautista, CEO of UnionBank. Going Digital Is the Right Approach Amid Pandemic In an interview with Euromoney, the head of UnionBank, the Philippines’ ninth-largest bank, said that this might be the beginning of the end of hard cash, at least for the Philippines, a country whose lockdown measures are challenging […]

2020-4-5 15:00
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Egypt’s Central Bank Limits Daily Withdrawals to $640. Is Crypto the Answer?

Yesterday, the Egyptian central bank issued a directive limiting all cash withdrawals from banks over fears it will run out of currency. Egypt is feeling the economic pressures of the coronavirus pandemic and is now instructing its citizens not to take out so much cash.

2020-3-31 02:15
cash egypt withdrawals central bank out pressures

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China Is Drafting Laws for the Circulation of National Digital Currency

Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media.

2020-3-26 07:00
central bank digital china currency drafting circulation

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Bank of America Economist: ‘There Should Be No Upper Bound for the Size of Stimulus’

Amid the coronavirus pandemic, worldwide governments have decided that there is effectively no limit to their money printing. That was confirmed recently by a statement from Bank of America. A major recession seems certain amid the global market panic.

2020-3-22 11:15	BTC/USD
bank amid america confirmed money printing major

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Italian Bank Launches ‘Hype’ Bitcoin Trading Service in Wake of the Coronavirus Outbreak

The Coronavirus (COVID-19) pandemic has inevitably sparked innovation and caused an increase in adoption of some markets sooner than we expected. An Italian bank, Banco Sella, recently launched a BTC trading service in a bid to deal with the tough financial times.

2020-3-20 20:32	Trading & Investing
bank coronavirus italian trading service sella banco

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Sending Cash to Friends and Family Through Bitcoin ATMs Is Safer Than Crowding Bank Offices During Pandemic

Transferring money over traditional channels may involve a lot of queuing in lines these days. Authorities around the world are trying to prevent large groups of people gathering in confined spaces to reduce the risk of transmitting the coronavirus infection.

2020-3-16 12:15
around world days queuing lines these trying

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Bank Branch in New York Suffers Cash Shortage Amid Coronavirus Panic

The viability of fiat currency is being stretched to its limit as banks run out of cash in New York amid the novel coronavirus pandemic. Fear continues to spike and reports are now confirming that New Yorkers are taking out cash in record numbers, particularly the wealthy.

2020-3-16 06:15	фиат
cash new coronavirus amid york out reports

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Will the Coronavirus Cause a Global Recession?

Even if the virus doesn't grow to become a global pandemic, its economic ramifications may be enough to cause a recession in China, World Bank data suggests. This may lead to a domino effect that results in a global slowdown.

2020-2-10 18:30	recession
global may recession cause data china bank

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Digital yuan being dumped in favor of cash

While Beijing is trying to popularize its digital yuan, only a few seem to be ready to use it. As Chinese government employees, especially those in state-owned enterprises and governmental organizations, become early adopters of receiving their salaries in digital…

Standard Chartered to offer support for China’s digital yuan

Standard Chartered Bank has announced its upcoming participation in China’s digital yuan, also known as digital renminbi (RMB), with the pilot project set to commence on Nov. 27. The bank said it will provide customers with digital yuan exchange, redemption, and other services.

PetroChina Completes First International Crude Oil Trade in Digital Yuan: Report

PetroChina bought 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange.

China FX regulator supports CBDC amid monetary policy

A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main features of…

China launches first digital currency industrial park

China has launched its first industrial park dedicated to developing and applying the digital yuan, or e-CNY, in the city of Nanjing, Jiangsu province.

Chinese central bank exec aims for digital yuan retail expansion

Changchun Mu, an executive from the People’s Bank of China (PBOC), stated that the digital yuan needs to be available in retail scenarios. According to the local source Paper, Mu explained at a trade forum in Beijing that the central…

Chinese Players to Showcase Digital Yuan Solutions at 2023 Beijing Service Trade Fair

Local news outlet underlines that JD's partnership with ICBC will release a digital yuan programmable supply chain solution. It will be based on digital renminbi smart contracts. The post Chinese Players to Showcase Digital Yuan Solutions at 2023 Beijing Service Trade Fair appeared first on BeInCrypto.

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