Huawei has announced that its new range of smartphones will support hardware wallets for the digital yuan. In a post uploaded to its Weibo page, the tech giant claimed that the Mate 40 is the first device to support China’s upcoming digital currency.
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Alibaba's Jack Ma says its time for a new financial system based on a digital currency (Photo: Wikimedia Commons)Alibaba’s Jack Ma says switch to a digital currency
The founder of China’s e-commerce giant believes China needs a new financial system based on a digital yuan
Attacking the traditional financial system as too focused on risk prevention, Ma said on Oct. 25 that regulators are stifling opportunity for young people and new economies.
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The digital yuan isn't planning to crush AliPay and WeChat Pay after all (Photo: Flickr/Philip Roeland)China’s digital yuan will not compete with AliPay or WeChat Pay
Despite threatening an anti-trust investigation this summer, the head of China’s digital currency said it will co-exist with the two dominant mobile payment services
Mu Changchun, the head of the research institute for digital currency at the People’s Bank of China, said that the central bank digital currency won’t compete with the two services, which together hold 94% of the market.
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China's shot across the bow of its biggest digital payments allies/competitors (Photo: Gerd Altmann/Pixabay)Launching its own digital currency, China take aim at digital payment titans
The People’s Bank of China has called for an anti-trust investigation of Alipay and WeChat Pay, which together control 94% of the market. Is the forthcoming digital yuan responsible?
China is creating a digital currency that can be used for day-to-day payments. Now a new report claims the People’s Bank of China is trying to initiate an anti-trust investigation against the two firms that dominate this space: Alipay and WeChat Pay.