JD.com will be the first platform to accept China’s cryptocurrency

News

JD.com will be the first platform to accept China’s cryptocurrency

09.12.2020 News

Chinese e-commerce company JD.com Inc announced on Saturday that it will be the first platform in the country to accept China’s digital currency.

The Central Bank of China will hold its second digital yuan lottery among citizens of Suzhou, near Shanghai on Friday. The total amount of playable digital yuan is 20 million ($ 3.06 million) and will be distributed over 100,000 so-called “red packages”, each containing 200 yuan ($ 30), which can be exchanged for goods until December 27 in certain physical stores in Suzhou through the Digital Yuan app, as well as on the online platform JD.com.

Those wishing to participate on Saturday / Sunday had to register in the official city application of Suzhoudao. Then they had to create a personal digital wallet in one of the six participating banks – Bank of China, Construction Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, Communications Bank and Postal Savings Bank of China.

The current lottery in Suzhou will be the first in which consumers will test their shopping experience using digital yuan online. Earlier in October, a similar lottery was held for tens of thousands of Shenzhen citizens totaling 10 million yuan ($ 1.53 million) so they could shop at local stores. According to Xinhua, nearly 900,000 yuan was spent on more than 60,000 transactions.
According to the governor of the People’s Bank (Central Bank) of China and Ghana, taking into account other urban testing from April to early November this year, more than four million transactions totaling about $ 2 billion were made using the digital yuan.

According to a statement from the People’s Bank of China, in the near future they plan to expand the use of digital currency and testing in Beijing, Shanghai and Hangzhou, as well as in less affluent cities such as Lanzhou, Urumqi and Lhasa (launch schedule is not yet known).

“We are committed to steadily advancing digital currency research and development, systematically conducting controlled pilot projects, and improving the legal framework for digital currencies,” Central Bank Governor I Gann wrote in a recent article.

China’s digital yuan is one of the world’s most advanced “central bank digital currency” (CBDC) initiatives, as governments around the world respond to threats from private currencies such as bitcoin and Libra Facebook.

Bitcoin, which has recently reached record highs, is decentralized, meaning that it is not controlled or issued by a single organization or bank.

The BIS, a group of central banks, said earlier this year that 80% of the world’s central banks “have already begun to conceptualize and explore the potential of central bank digital currencies (CBDCs).”

The efforts of The Bank of China to introduce its own currency suggest that it seeks to control the country’s cash flows and potentially international transfers, as well as to prevent the excessive influence of foreign private cryptocurrencies.

The development of the digital yuan began in 2014, when the online payment services Alipay from Ant Group and WeChat Pay from Tencent were the main payment methods in China. The project is seen as a step to limit the impact of the financial services of technology giants in the country’s traditional financial system.

Last month, China’s largest private financial company, Ant Group, failed in its initial public offering plans in Hong Kong and Shanghai due to its termination by Chinese regulators. IPO Ant Group was to become the largest in history.

Other articles

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Airbnb intends to raise $ 1 billion from the initial public offering
    News

    Airbnb intends to raise $ 1 billion from the initial public offering

    The American company Airbnb, which is the operator of the rental service of the same name, expects to raise $ 1 billion through an initial public offering (IPO). This is stated in a statement posted on Monday on the website of the Federal Securities and Exchange Commission. The company clarifies that its plans are “preliminary […]

  • Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds
    News

    Saudi Aramco is preparing to place up to five tranches of dollar Eurobonds

    The state corporation Saudi Aramco is preparing to place dollar Eurobonds, a source in banking circles said. According to him, the company is considering the possibility of placing up to five tranches of Eurobonds: with a maturity of three years, five years, ten years, as well as thirty and / or fifty years. Starting on […]

  • Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business
    News

    Alibaba’s financial report exceeded expectations, with a record 60% growth in the cloud computing business

    Shares of Alibaba, up 35.7% since the beginning of the year but down almost 8% this week, rose 5.3% during trading on Friday after China’s largest public company announced second-quarter results financial year 2021, which ended in September. Alibaba’s quarterly report was preceded by news of the termination of the IPO of financial technology company […]

  • Alibaba will acquire part of the shares during the IPO of the Ant Group
    News

    Alibaba will acquire part of the shares during the IPO of the Ant Group

    Chinese Internet company Alibaba will buy more than a fifth of the shares of its division, specifically of a fin-tech company Ant Group, as part of its future IPO on the stock exchanges of Hong Kong and Shanghai, Alibaba said in a release. “Alibaba has agreed to subscribe for 730 million shares of the initial […]

  • DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021
    News

    DiDi taxi service is planning the IPO on the Hong Kong Stock Exchange in 2021

    The taxi service of the international Chinese company DiDi Chuxing intends to conduct the initial public offering (IPO) on the Hong Kong Stock Exchange. As reported by Reuters on Tuesday, citing sources, this may happen in the first half of 2021. By the time of the IPO, the estimated value of DiDi will be more […]

  • Roblox is preparing for the IPO
    News

    Roblox is preparing for the IPO

    American video game company, Roblox Corporation, is working with the investment banks on the preparation for listing on the US stock exchange, which may happen early next year. According to the Reuters, such step should help Roblox to take advantage becoming popular during the pandemic. The company expects to be able to double its recent […]

Read also

JD.com will be the first platform to accept China’s cryptocurrency
News

Amazon’s advertising revenue in 2020 grew by 52%

Amazon’s digital advertising business (AMZN) has received a new high estimate of growth in 2020 from experts from the global research company eMarketer. Amazon shares, which have not changed much since the beginning of 2021, rose at the beginning of trading on Wednesday. EMarketer analysts gave investors another confirmation of the strong growth of the […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

AMC instituted a proceeding against the “Ukrtatanafta”

The Antimonopoly Committee of Ukraine (ACU) instituted a proceeding against JSC “Ukrtatnafta” for submitting the committee with incomplete information. As the press service of the AMC said, the committee is investigating part of case instituted on the grounds of violations of the legislation on the Protection of Economic Competition by the companies  “Ukrtatnafta” JSC, “SPC-Galicia”, […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

The transactions of the Delta Bank at 22 billion UAH declared as negligible

Deposit Insurance Fund (DIF) in the period of the interim administration and liquidation of insolvent Delta Bank recognized as negligible 175 deals worth 22.292 billion UAH. According to the  DIF, in particular, to 11 business transactions, including the sale of the assets with the discount, or related parties, transaction of 12.2 million UAH were recognized […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

5 Reasons Why Most People Don't Become Wealthy

From confidence to clarity, there are a number of reasons holding you back from success. Previously LDaily wrote about how important it is to improve the professional value – “To be successful in business means to have a high” social currency “, take into account the things that you need to pay attention to at […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

The price of bitcoin exceeded the mark of $ 18 thousand

The value of bitcoin for the first time since December 2017 exceeded the mark of $ 18 thousand. The cryptocurrency rate reached $ 18,174. For the first time since December 2017, the bitcoin exchange rate exceeded 18,000. This is evidenced by data from the electronic cryptocurrency exchange Coindesk and the portal CoinMarketCap. So, on the […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
Analytics

How exists and breathe the agrarian business of Ukraine

If there is a sector in which Ukraine is objectively comparable to the leaders of the world rankings, it is agriculture. According to the «Food» and «Agriculture Organization», Ukraine ranks third in the world by percentage of cropland against the total county’s area. And according to the «National Master»(global statistics portal), Ukraine occupies the 4th […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Gazprom has refused annual gas transit through Ukraine

Russia’s gas monopoly Gazprom has not booked capacity at annual auctions through Poland and Ukraine. It is noted that the auctions were held on the booking platforms GSA Platform and Regional Booking Platform. The operator of the gas transmission system of Ukraine exhibited additional “solid” capacities of 9.8 million cubic meters m per day for […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

The robotization of Amazon’s warehouses led to the increasing of the injuries among the employees

Introduced five years ago in Amazon’s warehouses the robots did not make the life easier for the employees – on the contrary, people are now forced to work four times faster. In addition, the robotics has brought Amazon warehouses to the record 14,000 serious injuries by the end of 2019. The current figures are to […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

The external debt of Ukraine added $ 2.5 billion

In the second quarter of 2020, Ukraine’s gross external debt increased by $ 2.5 billion and amounted to $ 122.8 billion, according to the National Bank. In terms of GDP, debt increased to 78.8% from 75.1% at the end of the first quarter. At the beginning of the year the figure was 78.6%. “External debt […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Ukrainian startup TripMyDream was acknowledged as the best travel-startup in the world and will receive investments up to $ 500,000

In Lausanne (the Swiss city) took place  the final of the international start-up competition Seedstars Summit 2016 in which the best tourist startup in the world was chosen. The main prize, the investment of up to $ 500,000 received the Ukrainian company TripMyDream. The team fought for the title of winner among the ten finalists, […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Metinvest went to the US Bankruptcy Court

US Bankruptcy Court in Delaware will consider the appeal of the Metinvest company about the restructuring of Eurobonds. US Bankruptcy Court in Delaware appointed for February 9 meeting on the treatment Metinvest BV (Netherlands), the parent company of Ukrainian mining and metallurgical group Metinvest to authorize the US proposal for the restructuring of its Eurobonds […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Shares of Volkswagen get down on 40%

Nordea, the €190bn (£135.6bn) Scandinavian fund manager, has become the first major investor to signal it is preparing to sue Volkswagen over the carmaker’s manipulation of emissions tests. Nordea Asset Management told reporters over the weekend that it planned to join “several different class actions” against Volkswagen. The emissions fixing scandal has left investors with billions of […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Lifecell sold towers to the Ukrainian sister company for $ 52 million

Mobile operator lifecell sold its sister company telecommunication towers in Ukraine.  The Ukrtower Company will pay minimum $ 52 million plus taxes for  811 objects. This is stated in the message of the owner of the company – Turkish Turkcell Holding. According to the report, the resolution on the transaction was carried by the Turkish […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Kromberg&Schubert increases the investments in its plant in Zhitomir

The manufacturer of on-board cable systems is  ready to increase the number of workers from 900 to 5000 people. A foreign investor, a manufacturer of cable networks for automobiles – Kromberg and Schubert has invested in the production of automotive components plant in Zhitomir € 10 million, and it plans to double its investment and […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Alibaba invests in the largest hypermarket operator in China

The largest Chinese Internet company Alibaba Group Holding Ltd. will acquire from Auchan Retail International shares of the largest Chinese hypermarket operator Sun Art Retail Group for $ 3.6 billion, according to the press release from Alibaba. “Alibaba is investing $ 28 billion ($ 3.6 billion) to acquire … 70.94% of Auchan Retail’s stake in […]

Next
JD.com will be the first platform to accept China’s cryptocurrency
News

Oschadbank sued the Sberbank of Russia

Ukrainian state bank claims Sberbank of Russia in  violation of intellectual property rights. State Savings Bank of Ukraine has filed a lawsuit against Sberbank of Russia for copyright infringement.Oschadbank insists on the illegality renaming of Ukrainian “daughter” of the Sberbank of Russia in Sberbank and alleges a violation of their intellectual property rights. The suit […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com