China – FinTech Ranking https://fintechranking.com All You Should Know About Fintech Tue, 25 Apr 2023 02:55:34 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.15 https://fintechranking.com/wp-content/uploads/2020/03/ftr_favicon2.ico China – FinTech Ranking https://fintechranking.com 32 32 96937361 Singapore, China collaborate on green finance https://fintechranking.com/2023/04/24/singapore-china-collaborate-on-green-finance/?utm_source=rss&utm_medium=rss&utm_campaign=singapore-china-collaborate-on-green-finance Mon, 24 Apr 2023 23:55:00 +0000 http://fintechranking.com/?p=26862 The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) announced the China-Singapore Green

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]]> The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) announced the China-Singapore Green Finance Taskforce (GFTF). The capital needed to transition to a low carbon world is significant, and governments are looking for private sector participation through green finance. With Singapore as a major financial hub in Asia, together they want to improve financing flows between Singapore, China and the region.

The first three work priorities of the initiative include common taxonomies, products and technology. On the technology front, Singapore’s Metaverse Green Exchange and Beijing Green Exchange will pilot digital green bonds and carbon credits. 

Read more: Ledger Insights

Image by eko pramono from Pixabay 

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]]> 26862 Chinese city public servants to receive digital yuan salaries starting May https://fintechranking.com/2023/04/24/chinese-city-public-servants-to-receive-digital-yuan-salaries-starting-may/?utm_source=rss&utm_medium=rss&utm_campaign=chinese-city-public-servants-to-receive-digital-yuan-salaries-starting-may Mon, 24 Apr 2023 17:50:00 +0000 http://fintechranking.com/?p=26856 The Chinese city of Changshu has stated that all civil servants in its jurisdiction will

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]]> The Chinese city of Changshu has stated that all civil servants in its jurisdiction will be paid their full salaries in digital yuan starting May 2023, according to local reports.

According to a notice issued by financial authorities in the city, civil servants — including those in public service, public institutions and state-owned units at all levels — will be compensated in digital yuan.

Read more: Cointelegraph

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]]> 26856 KuCoin and Circle back Chinese yuan-pegged stablecoin in $10M round https://fintechranking.com/2023/03/15/kucoin-and-circle-back-chinese-yuan-pegged-stablecoin-in-10m-round/?utm_source=rss&utm_medium=rss&utm_campaign=kucoin-and-circle-back-chinese-yuan-pegged-stablecoin-in-10m-round Wed, 15 Mar 2023 23:37:00 +0000 http://fintechranking.com/?p=26671 Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore

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]]> Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore Chinese yuan-backed stablecoin project, CNHC.

CNHC’s latest funding round totals $10 million and was led by KuCoin Ventures, the investment arm of the fourth biggest crypto exchange in the world. IDG Capital and Circle Ventures were participating investors.

Read more: TechCrunch

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]]> 26671 China Approves Launch of New Blockchain Research Hub in Beijing https://fintechranking.com/2023/02/10/china-approves-launch-of-new-blockchain-research-hub-in-beijing/?utm_source=rss&utm_medium=rss&utm_campaign=china-approves-launch-of-new-blockchain-research-hub-in-beijing Sat, 11 Feb 2023 01:07:00 +0000 http://fintechranking.com/?p=26468 China’s Ministry of Science and Technology has approved the construction of its National Blockchain Technology

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]]> China’s Ministry of Science and Technology has approved the construction of its National Blockchain Technology Innovation Centre.

The research hub’s key objectives revolve around researching the technology for industrial applications as well as how it could be applied in the national economy.

The new center will also collaborate with domestic universities in China, as well as research institutes and businesses.

Read more: Decrypt

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]]> 26468 China Launches Smart-Contract Functionality on Digital Yuan Through E-Commerce App Meituan https://fintechranking.com/2023/01/19/china-launches-smart-contract-functionality-on-digital-yuan-through-e-commerce-app-meituan/?utm_source=rss&utm_medium=rss&utm_campaign=china-launches-smart-contract-functionality-on-digital-yuan-through-e-commerce-app-meituan Fri, 20 Jan 2023 00:50:00 +0000 http://fintechranking.com/?p=26271 China has enabled smart-contract functionality for its central bank digital currency (CBDC), the digital yuan,

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]]> China has enabled smart-contract functionality for its central bank digital currency (CBDC), the digital yuan, through the e-commerce app Meituan, one of China’s largest food delivery and lifestyle apps.

The smart contracts used by Meituan allow a daily prize of 8,888 RMB ($1,312) to be divided up, according to local crypto media outlet 8btc and other mainstream internet media outlets in China.

Read more: CoinDesk

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]]> 26271 ByteDance Pushes Into Payments With Help From J.P. Morgan https://fintechranking.com/2023/01/05/bytedance-pushes-into-payments-with-help-from-j-p-morgan/?utm_source=rss&utm_medium=rss&utm_campaign=bytedance-pushes-into-payments-with-help-from-j-p-morgan Thu, 05 Jan 2023 19:54:00 +0000 http://fintechranking.com/?p=26214 J.P. Morgan has been quietly working with TikTok parent ByteDance on payments technology that is

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]]> J.P. Morgan has been quietly working with TikTok parent ByteDance on payments technology that is helping the Chinese giant expand into more than two dozen markets and reach millions more users. The partnership is just one piece of ByteDance’s broader push into the fintech space.

TikTok is a sprawling marketplace: An enormous amount of money moves across the platform each day as people buy coins to send virtual gifts (like diamonds and roses) to their favorite creators and others they meet through the app, who can then convert those items into cash. Users around the world spent $3.4 billion on TikTok in 2022, up from $2 billion the previous year, and spending in the U.S. alone more than tripled—to $670 million—from the year before, according to data analytics firm Sensor Tower.

Read more: Forbes

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]]> 26214 China’s first national NFT marketplace to launch next week https://fintechranking.com/2022/12/29/chinas-first-national-nft-marketplace-to-launch-next-week/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-first-national-nft-marketplace-to-launch-next-week Thu, 29 Dec 2022 14:29:00 +0000 http://fintechranking.com/?p=26187 According to a report published by local news outlet Sina News on Dec 28, China will launch

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]]> According to a report published by local news outlet Sina News on Dec 28, China will launch its first regulated platform for nonfungible token (NFT) trading on Jan. 1, 2023. The entity, which acts as a secondary market for the exchange of NFTs, was created by the state-owned Chinese Technology Exchange, the state-owned Art Exhibitions China, and Huban Digital Copyrights Ltd, a private corporate entity. 

In addition to NFTs, the platform will also facilitate the trading of copyrights related to digital assets. The project aims to “regulate and avoid the excessive speculation in secondary [NFT] markets,” as stated by a person familiar with the matter.

Image by Gerd Altmann from Pixabay

Read more: Cointelegraph

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]]> 26187 China’s top regulators ban crypto trading and mining https://fintechranking.com/2021/09/24/chinas-top-regulators-ban-crypto-trading-and-mining/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-top-regulators-ban-crypto-trading-and-mining Fri, 24 Sep 2021 17:32:00 +0000 http://fintechranking.com/?p=24577 China’s most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban

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]]> China’s most powerful regulators on Friday intensified a crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks.

Ten agencies, including the central bank, financial, securities and foreign exchange regulators, vowed to work together to root out “illegal” cryptocurrency activity, the first time the Beijing-based regulators have joined forces to explicitly ban all cryptocurrency-related activity.

Read more: Reuters

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]]> 24577 China’s UnionPay and Korea’s Danal to launch crypto-supporting digital card https://fintechranking.com/2020/11/04/chinas-unionpay-and-koreas-danal-to-launch-crypto-supporting-digital-card/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-unionpay-and-koreas-danal-to-launch-crypto-supporting-digital-card Wed, 04 Nov 2020 14:28:00 +0000 http://fintechranking.com/?p=22928 Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered

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]]> Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card, Cointelegraph reports.

Danal’s crypto wallet Paycoin, and its crypto token of the same name, will be the interface for the new, prepaid mobile card. Paycoin has indicated that users will be able to use the card, and Paycoin, to pay for goods and services at over 30 million UnionPay merchants across 179 countries and regions. 

Read more: Cointelegraph

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]]> 22928 China’s Digital Yuan Blurs the Lines Between CBDCs and Crypto https://fintechranking.com/2020/10/16/chinas-digital-yuan-blurs-the-lines-between-cbdcs-and-crypto/?utm_source=rss&utm_medium=rss&utm_campaign=chinas-digital-yuan-blurs-the-lines-between-cbdcs-and-crypto Fri, 16 Oct 2020 18:39:00 +0000 http://fintechranking.com/?p=22798 Central Bank Digital Currencies (CBDCs) are rapidly gaining prominence in discussions around the future of

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]]> Central Bank Digital Currencies (CBDCs) are rapidly gaining prominence in discussions around the future of money. The many dimensions of debate, whether policy, economic or financial, whittle down ultimately to design choices.

China’s digital yuan, or DC/EP, is not just important from the perspective of geopolitics and its implications for the current underpinnings of the global financial system. What is arguably as significant is the technical design of this system – the first production-scale retail CBDC system in the world.

The blockchain engineers, economists, financial sector and policy experts at Policy 4.0 has spent some months reverse engineering and studying the implications of this system. Tanvi Ratna, founder and CEO of Policy 4.0, has shared the results.

Read more: Coindesk

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