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BIS Considers Ending Mbridge Project Over BRICS Connections, but Is It Too Late?

BIS Considers Ending Mbridge Project Over BRICS Connections, but Is It Too Late?While conversations about ending the CBDC-enabled international settlements project have focused on its links to BRICS, Mbridge has already reached the MVP stage, and members could choose to continue it without support from the BIS. BIS Considers Ending Mbridge Project, BRICS Countries Could Use It for Circumventing Sanctions The Bank for International Settlements (BIS) is […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

Digital Ruble and Sanctions: Expert Analyzes Russia’s Digital Currency Plan to Evade Western Control

Digital Ruble and Sanctions: Expert Analyzes Russia’s Digital Currency Plan to Evade Western ControlA Fellow at the Carnegie Russia Eurasia Center and former adviser at the Central Bank of Russia has weighed in on the digital ruble, Russia’s central bank digital currency (CBDC), highlighting its potential role in reshaping Russia’s financial landscape amid sanctions. While the digital currency could offer new avenues for trade and reduce reliance on […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals

China’s Digital Yuan Nears  Trillion in Transactions, PBOC Official RevealsChina’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

China and Kazakhstan Sign CBDC Collaboration Agreement

China and Kazakhstan Sign CBDC Collaboration AgreementThe People’s Bank of China and the National Bank of Kazakhstan have signed an agreement to collaborate on central bank digital currencies (CBDCs). This collaboration agreement, formalized during President Xi Jinping’s visit to Kazakhstan, aims to enhance CBDC research through joint initiatives and professional development. China and Kazakhstan to Collaborate on Central Bank Digital Currencies […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and Mbridge

Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and MbridgeTencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its international settlements arm Tenpay, which piloted the use case of the Chinese CBDC, the digital yuan, to settle e-commerce exports using Mbridge’s rails. Tencent Participated […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

Chinese Gang Arrested for Exploiting Digital Yuan

Chinese Gang Arrested for Exploiting Digital YuanIn Zhejiang province, China, a criminal gang exploited digital yuan accounts to illegally cash out over 200,000 yuan ($27,566) within four days. The digital yuan, or e-CNY, is the People’s Bank of China’s (PBOC) central bank digital currency (CBDC), which has experienced substantial growth in usage. Adoption has reached 260 million wallets across 25 cities, […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

HSBC China Introduces Digital Yuan Services for Corporate Clients

Chinese Gang Arrested for Exploiting Digital YuanHSBC Bank (China) Ltd. announced on Friday the launch of digital yuan (e-CNY) services for corporate clients, becoming one of the first international banks to provide these services to both corporate and retail customers. The e-CNY, or digital yuan, is China’s central bank digital currency (CBDC) issued by the People’s Bank of China (PBOC). Following […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally

China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets LocallyThe Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks

Hong Kong to Kickstart New Web3 and Digital Yuan Initiatives This Year

Hong Kong to Kickstart New Web3 and Digital Yuan Initiatives This YearThe city of Hong Kong has detailed the advancement of new Web3 and digital yuan initiatives as part of its 2024-2025 budget. In a speech, Hong Kong Financial Secretary Paul Chan stated that the city would expedite a Web3 sandbox for stablecoins and expand the digital yuan pilot as part of its digital finance policies. […]

Lightchain AI Reaches Stage 6 Milestone with $2.7M Raised in Just Three Weeks