UnionPay partners Dolfin to introduce more payment privileges for Thailand customers

The partnership aims to further Bank of Thailand’s mission for a cashless society.

cracked down, pose risks, Nikkei Asia., partnership with Nikkei

China’s digital yuan trials racked up RMB 34.5 billion (USD 5.34 billion) in transactions by the end of June, according to a white paper released Friday by the People’s Bank of China.

The currency has been used in 70.75 million payments so far across more than 1.32 million “scenarios”—not only in retail settings like stores and restaurants, but also for public transportation, utility bills, and government services. The central bank said it has “no preset timetable” for a full launch.

The test shows the rapid strides Beijing has made toward a central bank digital currency, an idea that is seeing increasing interest elsewhere in the world, including in the US. China has recently cracked down on other digital currencies, with the PBOC warning that asset-linked “stablecoins” pose risks to global financial systems.

The pilot program for the virtual currency began in late 2019 in five locations, including Shenzhen and venues for the 2022 Winter Olympics in Beijing, with Shanghai and five others added last November.

More than 20.87 million personal wallets and 3.51 million wallets for organizations and companies have been created so far. Smartphone apps, wearable devices, and smart cards can all house digital-yuan wallets.

According to a source familiar with the situation, the PBOC intends to continue local trials during the 2022 Winter Olympics in Beijing toward an official rollout as early as next year.

For now, the central bank will further expand the pilot program to cover “all possible scenarios” for transactions and improve the system’s stability and data security. Research will continue into the digital yuan’s impact on monetary policy and the financial system, and Beijing will move forward with changes to the relevant legislation to provide a legal basis for the currency.

This article first appeared on Nikkei Asia. It’s republished here as part of 36Kr’s ongoing partnership with Nikkei.

News Related


Female scientists step up for leading roles in medical science: report

(Yonhap)Four out of 10 medical research projects in South Korea are now led by female scientists, but in other fields of science, women are still significantly outnumbered by men, a ... Read more »

UN chief rips into billionaires Bezos and Branson for ‘joyriding in space' while billions starve on Earth

UN chief rips into billionaires Bezos and Branson for ‘joyriding in space’ while billions starve on Earth United Nations secretary-general Antonio Guterres at the General Assembly on Tuesday tore into ... Read more »

Hyundai and Kia to launch 6 electric cars in India by 2024

India is moving towards adopting an ecosystem of zero-emission vehicles. Various states and even the central government has laid out plans to incentivize both the end consumers as well as ... Read more »

Trapped echidna saved from drain by firefighters

An echidna stuck in a Queensland stormwater drain has been rescued and released back into the wild. Firefighters in the Rockhampton suburb of Berserker responded to a call from a ... Read more »

Indian govt's draft e-commerce rules face opposition from, well, Indian govt

The contentious draft e-commerce rules that the Indian Consumer Affairs Ministry had announced last June, which was protested by players like Amazon and Flipkart, have found further opposition from unlikely ... Read more »

Dizo Watch 2, Dizo Watch Pro go on sale today at discounted price

The Dizo Watch 2 and Dizo Watch Pro smartwatches will go on sale in Inida starting today at noon. Realme’s Techlife ecosystem brand added the new smartwatches last week thereby ... Read more »

Veterans slam 'disgraceful' shrine protest

Victorian veterans say it is “disgraceful and disrespectful” to use Melbourne’s Shrine of Remembrance to express political views after a mob of rioters relocated from the CBD. © James Ross/AAP PHOTOS ... Read more »

I'm A Celebrity ... Get Me Out Of Here! worker in Byron Bay charged with COVID health order breaches

Police have charged a crew member attached to the production of television program I’m A Celebrity … Get Me Out Of Here! for multiple breaches of public health orders. The 31-year-old ... Read more »

Gastro cases closes Qld scout camp early

A scout camp on the Sunshine Coast will close early after a suspected gastro outbreak resulted in more than 20 patients being taken to hospital.  © Dave Hunt/AAP PHOTOS A ... Read more »

This is a positive story about Facebook. No, really

Facebook is using one of its most engaging places on the site to spread positive stories about the company: the News Feed. That’s right. Over the past couple of months, ... Read more »

[Herald Interview] Satrec Initiative poised for leap in Korea's space rush

Satrec Initiative’s low-Earth orbit satellite (Satrec Initiative)This is the second installment in a series of interviews with executives of Korean companies with space ambitions. — Ed.  About a month from ... Read more »

Filipina Kenakan PPN 12 Persen untuk Raksasa Teknologi Google, FB, Netflix

© Copyright (c) 2016 TEMPO.CO foto TEMPO.CO, Jakarta – DPR Filipina menyetujui RUU pengenaan pajak pada raksasa teknologi seperti Facebook, Google, Youtube, dan Netflix. Dengan suara 167-6-1, anggota parlemen pada ... Read more »

Roblox update: Age verification rollout starts this week for players 13 years old or older

Photo credit: Roblox / YouTube screenshot Roblox, the online game and game creation platform, is planned to get more age-appropriate content in the near future. And to help its users ... Read more »

Hubs with free public wi-fi could replace old payphones in Reading

Old payphones in the town centre could be replaced with new Wi-Fi and 5G-enabled screens which can also measure air quality and traffic congestion. © Credits: Pixabay phone booth BT ... Read more »

SA data harvesting questions to be probed

Questions over possible data harvesting from people who visited South Australian government websites have been referred to an investigative body. © David Mariuz/AAP PHOTOS Peter Malinauskas is concerned about possible ... Read more »

Federal government hopes to reopen international border by Christmas 'at the latest'

The Tourism Minister has flagged the federal government anticipates the international border will be reopened by Christmas “at the latest”. Dan Tehan said the government was getting its systems ready to allow people ... Read more »

Illawarra-Shoalhaven warned of 'increasing' COVID cases as region records two more deaths

Another two COVID-related deaths have been recorded in the Illawarra as case numbers in the region continue to rise. A man from Kiama and a woman from Wollongong were among five deaths ... Read more »

WhatsApp removes Messenger Rooms shortcut from the chat share sheet: Report

WhatsApp is reportedly removing the Facebook Messenger Rooms shortcut from the chat share sheet. According to a report by WaBetaInfo, the shortcut is no longer available for WhatsApp beta users ... Read more »

Pokemon Unite launches on mobile today, but you might have to wait to play

It’s safe to say that Pokemon Unite is one of the most anticipated mobile games this year – the phone-friendly port of the popular Switch game wracked up at least ... Read more »

DoT eases processes for mobile subscribers: Here's how to get mobile SIM at doorstep

The first reform is Aadhaar based e-KYC that allows subscribers to get new mobile connections online. (Representative image) The Department of Telecommunications (DoT) has initiated a set of reforms that ... Read more »

Amazon launches Kindle Paperwhite, Paperwhite Signature Edition

Amazon says that both Kindle reader’s are made from 60 percent recycled plastic and 96 percent of their packaging is made from fiber-based materials. [Representative image] Amazon has updated its ... Read more »

[Herald Interview] Refining the design of Korea's top delivery app

Woowa Brothers CPO Yong Kim (The Korea Herald)Baedal Minjok, widely known as Baemin, has enjoyed a surge in popularity during the COVID-19 pandemic. As the use of delivery apps exploded, ... Read more »

Philippines lower house approves VAT for big tech firms

© Reuters/REUTERS FILE PHOTO FILE PHOTO: The logos of Amazon, Apple, Facebook and Google MANILA (Reuters) – The Philippines’ lower house of Congress has approved a bill imposing taxes on ... Read more »

SoftBank backs Steven Mnuchin's $2.5 billion private equity fund - FT

© Reuters/POOL FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin speaks during a House Financial Services Committee hearing in Washington (Reuters) – SoftBank Group’s Vision Fund had invested in a $2.5 ... Read more »

Why the collapse of Evergrande in China is a time bomb for Australia

© Provided by Daily Mail MailOnline logo The collapse of a major Chinese property developer is a ticking time bomb for Australia’s biggest export and government revenue, experts warn. Evergrande ... Read more »

Amazon announces new Kindle Paperwhite and Signature Edition for the UAE

It’s been nearly three years since the Amazon Kindle Paperwhite (2018) launched, which is quite a long time in the tech world, but fans of flashy new gadgets will be ... Read more »

Protesters converge on Melbourne war memorial chanting 'lest we forget'

Hundreds of protesters have converged on Melbourne’s most famous war memorial, with many heard chanting “lest we forget”, as protests continue in the city for a third day in a ... Read more »

Eufy HomeVac S11 Lite is an affordable cordless vacuum cleaner

Eufy HomeVac S11 Lite vacuum cleaner has been launched in India. For those who are unaware, Anker is the brand behind Eufy in India and the latest budget-friendly cordless vacuum ... Read more »

NSW 'vax passport' trials set for October

NSW’s vaccination passport may not be fully operational in time for the easing of restrictions in mid-October, the government says. © Bianca De Marchi/AAP PHOTOS Victor Dominello says the NSW ... Read more »

Australia eyes Christmas overseas travel

Australia’s tourism and trade minister believes international borders will be open in time for Christmas. © Joel Carrett/AAP PHOTOS Tourism Minister Dan Tehan says Australia’s international borders should reopen by ... Read more »

NSW hair salons and tattoo parlours could go bust after lockdowns end

© Provided by Daily Mail MailOnline logo Local hair salons and tattoo parlours across New South Wales fear they could soon go bust due to strict post-lockdown rules.  NSW Health ... Read more »

Reserve Bank says Australia's house prices could pose ‘risk to financial stability'

Australia’s ballooning housing prices – and the associated household debt for mortgage holders – could pose a risk to the economy’s financial stability in the event of a sudden downturn ... Read more »

Sam Burgess 'isn't joining the cast of Russell Crowe's new movie'

© Provided by Daily Mail MailOnline logo Former NRL star Sam Burgess hasn’t joined the cast of Russell Crowe’s new film Poker Face, despite reports he’s looking to ‘kickstart his career ... Read more »

Morrison launches congressional charm offensive to land subs pact

© AP Prime Minister Scott Morrison and US President Joe Biden held their first bilateral meeting in New York. Prime Minister Scott Morrison will go on a bipartisan charm offensive ... Read more »

Explainer: Exactly what happened in Melbourne yesterday, and why.

On Wednesday morning, Victoria’s Police Minister Lisa Neville warned that police were ready to respond should protestors take to the locked-down city’s streets yet again. © Getty Images Explainer: Exactly ... Read more »

Scientists say quake probably caused by tectonic pressure from NZ

© Getty Buildings along Chapel Street in Melbourne were damaged in Wednesday’s earthquake. The earthquake that hit Victoria on Wednesday morning is probably the result of tectonic plate pressure in ... Read more »

Mob makes way to Vic Shrine of Remembrance

A mob that has spent days rioting in the Melbourne CBD has made its way to the Shrine of Remembrance, surrounded by armed riot police. © James Ross/AAP PHOTOS Protesters ... Read more »

WA pair smash tons against SA in one-dayer

Western Australia’s Josh Philippe and Mitch Marsh have smashed centuries against South Australia in the domestic one-day cup opener. © Richard Wainwright/AAP PHOTOS Josh Philippe was one of two centurions ... Read more »

Voss to meet Blues about AFL coaching job

Michael Voss has touched down in Melbourne as the Brisbane Lions legend closes in becoming Carlton’s new AFL coach. © Julian Smith/AAP PHOTOS Michael Voss is the warm favourite to ... Read more »