China's Digital Yuan Used to Buy Securities for the First Time: Report - CoinDesk

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Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.

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Join the astir important speech successful crypto and Web3 taking spot successful Austin, Texas, April 26-28.

The integer yuan, oregon e-CNY, a token issued by the Bank of China, has been utilized to bargain securities for the archetypal clip according to a section study on Monday.

Now investors tin usage the e-CNY to bargain securities with the Soochow Securities mobile app, China Securities Journal reported, citing the securities firm.

China is further on than astir countries successful processing a central slope integer currency (CBDC). Last week, the state included the integer yuan successful currency circulation for the archetypal time. It besides added a relation to its e-CNY outgo app that allows users to marque payments offline, according to media outlet Yicai Global.

In October, e-CNY transactions reached a milestone of 100 cardinal yuan ($14 billion).

Countries astir the satellite are forging up with CBDCs, and astir cardinal banks are looking to contented a CBDC wrong 10 years, according to a study from the Official Monetary and Financial Institutions Forum, an autarkic deliberation tank. The Bahamas, Jamaica and Nigeria person already issued a CBDC.

Soochow Securities didn't instantly respond to a petition for comment.


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Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.


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CoinDesk - Unknown

Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. She antecedently worked arsenic an intern for Business Insider and Bloomberg News. She does not presently clasp worth successful immoderate integer currencies oregon projects.

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