China’s Shenzhen giving away millions in sovereign digital yuan to test technology and boost consumption
The digital yuan, known officially as the Digital Currency Electronic Payment (DCEP), is part of China’s plan to move towards a cashless...
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China’s Lufax files for US IPO against backdrop of rising tensions
Lufax, one of China’s biggest online lending platforms, has announced plans for a US IPO even as the Trump administration pushes ahead...
U.S. explores curbs on Ant Group, Tencent payment systems
U.S. officials are concerned that Ant Group and other Chinese fintech platforms will come to dominate global digital payments, the people...
Ant’s huge lending business powers $30bn IPO
Ant’s consumer lending business is made up of two products: Huabei (similar to a traditional credit card), and Jiebei (small unsecured...
China trials digital Yuan in retail settings
A new working paper from the Bank of International Settlements shows that the pandemic has led to increased interest among central banks...
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