数字人民币

Standard Chartered Bank is headquartered in the United Kingdom and claims to be an international bank that has been rooted in the Chinese market for more than a century.
Standard Chartered Bank has announced its upcoming participation in China’s digital yuan (also known as digital yuan CBDC), with a pilot project set to begin on November 27.
The bank stated that it will provide customers with digital renminbi exchange, exchange and other services. In addition, the bank stated that it will access the digital currency interconnection platform through City Bank Clearing Services Co., Ltd.
Standard Chartered Bank said it is “optimistic” about the digital yuan and its potential use in international merchant payments, trade finance and supply chain finance.

Nine more banks have joined China’s digital yuan pilot, bringing the number of banks offering CBDC wallets to 60.
According to Beijing Business Daily (Sohu), the latest batch of commercial banks to join the pilot include three major city banks and six rural banks.
City banks joining the pilot this month:
•Zhejiang Tailong Commercial Bank
•Rizhao Bank
•Ningbo Commercial Bank
Rural banks joining the pilot program this month:
•Jiangyin Rural Commercial Bank
•Wuxi Rural Commercial Bank
•Kunshan Rural Commercial Bank
•Taicang Rural Commercial Bank
•Shunde Rural Commercial Bank

Summary:
• The Hong Kong Monetary Authority (HKMA) has approved the retail use of digital RMB (e-CNY) in Hong Kong, but not for cross-border transactions.
• Hong Kong’s adoption of the digital RMB is controlled and monitored, with transaction and balance limits.
• Hong Kong promotes the development of digital RMB and improves Asia’s digital currency ecosystem through a pilot project approved by China.

The Hong Kong Monetary Authority (HKMA) has announced the acceptance of China’s digital yuan (e-CNY) for retail transactions in Hong Kong. The move, backed by China’s central bank, marks an important step in integrating digital currencies into everyday commerce.

In March 2025, the off-market exchange rate of USDT to RMB broke 9.0, creating a new high in two years! On-chain data reveals the truth behind Chinese retail investors' 'urgent asset swaps,' with a surge in capital outflow demand! However, gray channels hide deadly risks; how to safely and compliantly deposit and withdraw funds? Watch Binance's official solution in 3 minutes!
1. Data Focus: USDT off-market premium exceeds 9, complete analysis of retail fund flows
📍 Core Data (Source: Chainalysis, Binance Research Institute)
USDT CNY exchange rate: reached 9.03 on March 20, 2025, a 12% premium over the central bank's midpoint (historical peak);
On-chain Trends: In the past week, Chinese user addresses have deposited over 5 billion USDT to Binance, a year-on-year increase of 300%;

In a bold move to reshape the global financial landscape, China is intensifying efforts to broaden the use of its central bank digital currency (CBDC), the digital yuan (e-CNY), beyond domestic retail transactions. This strategic expansion aims to position the digital yuan as a formidable competitor to U.S. dollar-pegged stablecoins, such as Tether (USDT) and USD Coin ($USDC ), in international trade and finance.​

China's Strategic Shift Towards Digital Currency Dominance
The Chinese government's recent focus on the digital yuan reflects growing concerns over the influence of U.S. stablecoins in global markets. According to reports, Chinese authorities view these dollar-pegged stablecoins as potential threats to financial sovereignty, prompting a strategic pivot towards enhancing the digital yuan's global presence. The objective is clear: to establish the e-CNY as a viable alternative in international transactions, reducing reliance on the U.S. dollar and increasing China's influence in global finance.​

Expanding the Digital Yuan's Global Footprint
Initially introduced for domestic retail payments, the digital yuan's usage is now being expanded to encompass a broader range of financial activities, including cross-border transactions. This expansion is designed to facilitate seamless international trade and investment, positioning the digital yuan as a key player in the global digital economy. By integrating the e-CNY into international markets, China aims to challenge the dominance of U.S. dollar-pegged stablecoins and assert greater control over global financial systems.​

Implications for the Global Financial System
The proliferation of U.S. dollar-pegged stablecoins has raised concerns about their impact on the international financial system. These digital assets, while offering stability, are heavily tied to the U.S. dollar, potentially influencing global liquidity and monetary policies. China's push to internationalize the digital yuan introduces a state-backed digital currency that could offer an alternative to dollar-dominated stablecoins, potentially diversifying the digital currency ecosystem and introducing new dynamics in global finance.​

China's Position on Digital Yuan and Dollar Competition
Despite efforts to expand the digital yuan's reach, Chinese officials have stated that the digital yuan is not intended to directly compete with the U.S. dollar. Zhu Min, Chairman of China's National Institute of Financial Research at Tsinghua University, remarked that the digital yuan is not viewed as an instrument to challenge the dollar. This perspective suggests that while China seeks to enhance the digital yuan's global utility, it does not aim to replace the dollar but rather to provide an alternative within the existing financial system.​

China's Digital Yuan: A Global Game-Changer
The digital yuan represents a significant evolution in China's financial strategy, aiming to enhance financial sovereignty and internationalize the yuan. By providing a state-backed digital currency, China offers an alternative to cryptocurrencies like $BTC and aims to modernize payment systems. This initiative positions the digital yuan as a potential game-changer in the era of central bank digital currencies, influencing global trade, investment, and monetary policies. ​

Conclusion
China's strategic expansion of the digital yuan beyond retail payments signifies a pivotal shift in the global financial landscape. By positioning the e-CNY as a viable alternative to U.S. dollar-pegged stablecoins, China aims to enhance its influence over international financial systems. As this digital currency evolves, it will undoubtedly play a crucial role in shaping the future of global trade and finance.​

#digitalyuan #ChinaFinance #ChinaEconomy ​ #数字人民币 #电子人民币

advantage:
1. Reduce transaction costs;
Transactions in digital currencies do not need to go through the banking system, so transaction costs can be reduced. According to the People's Bank of China, the transaction cost of digital RMB is only one thousandth of that of traditional bank card transactions. This will help improve the efficiency of the payment system and reduce the burden on merchants and individuals.
2. Improve payment convenience;
Digital RMB supports multiple online and offline payment scenarios, and users can make payments anytime and anywhere. In addition, digital RMB also supports quick payment functions such as touch and pay, further improving the convenience of payment. According to statistics from the People's Bank of China, the average daily number of digital RMB transactions has exceeded WeChat Pay and Alipay.

More Chinese cities will give away digital yuan tokens and discount coupons this month as the People’s Bank of China (PBoC) seeks to stimulate CBDC adoption.
The People’s Bank of China’s Hebei branch and local government departments in the province will distribute $2.8 million worth of tokens and vouchers this month, Hebei News reported.
Recipients can use their tokens and vouchers at “over 50,000 participating merchants,” with a “two-phase giveaway” planned.
Residents must open or hold a digital RMB wallet at a commercial bank or the Alipay electronic payment platform to register for the interest. Entrants will have four separate chances to win.