A sign for China’s digital yuan, or e-CNY, is seen above Wechat Pay and Alipay signs at a counter during a trial of the Digital Currency Electronic Payment system at a shopping centre in Beijing on February 10. Photo: Reuters
A sign for China’s digital yuan, or e-CNY, is seen above Wechat Pay and Alipay signs at a counter during a trial of the Digital Currency Electronic Payment system at a shopping centre in Beijing on February 10. Photo: Reuters
David Chao
Opinion

Opinion

Macroscope by David Chao

How China’s digital currency push can boost fintech and the yuan’s global presence

  • The digital yuan offers stability and convenience that most popular cryptocurrencies do not
  • It will allow for better regulation of fintech, improve risk management for businesses, simplify cross-border transactions and promote overseas circulation of the renminbi

David Chao
David Chao

Updated: 4:48pm, 7 Apr, 2021

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A sign for China’s digital yuan, or e-CNY, is seen above Wechat Pay and Alipay signs at a counter during a trial of the Digital Currency Electronic Payment system at a shopping centre in Beijing on February 10. Photo: Reuters
A sign for China’s digital yuan, or e-CNY, is seen above Wechat Pay and Alipay signs at a counter during a trial of the Digital Currency Electronic Payment system at a shopping centre in Beijing on February 10. Photo: Reuters
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