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Chengdu City Announces Digital Yuan Trials with Biggest Handout of $6M


Chengdu City Announces Digital Yuan Trials with Biggest Handout of $6M
Feb 24 2021 · 10:14 UTC | Updated
Feb 24 2021 · 11:08
by John Kiguru · 3 min read
Photo: Depositphotos
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The Chengdu lottery will have around 200,000 participants who will receive from $27 to $37.
Chengdu has confirmed the distribution of $6 million in the latest test of the digital yuan by the Central Bank of China. The Southwestern city becomes the latest in a growing list that includes Beijing, Suzhou and Shenzhen.
The latest distribution of $6 million is more than double the last one, conducted earlier in the month. Beijing saw around $1.5 million distributed to 50,000 participants. The Chengdu digital yuan lottery will roughly be distributed to 200,000 participants who will receive around $27 to $37. It is further reported that the handouts are tied to the Lunar New Year and will work with local retailers like JD.com. ....

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Global Fintech Investments Topped $30B in First Nine Months of 2020


Global Fintech Investments Topped $30B in First Nine Months of 2020
Feb 24 2021 · 16:15 UTC | Updated
Feb 24 2021 · 16:34
by John Kiguru · 3 min read
Photo: Unsplash
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According to a report by Qatar Financial Centre and Refinitiv, investors stashed $30.4B in global fintech investments in the first 9 months of 2020.
Despite 2020 being characterized by economic chaos and market crashes, investors still managed to invest $30.4B in the fintech industry according to the Qatar Fintech Report 2021. The report especially highlighted the exponential interest growth. In 2008, global fintech investments stood at $1B. In a few years, this has gone to over $30B. It is also evident that investors are seeing great potential in the Middle East and North Africa (MENA) region. ....

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Record 63.1K BTC Options Expire on Friday, Has This Triggered Price Panic?

The market is getting heated this week with 61.3K BTC options set to expire on Friday. The price of $48K has the highest interest with 4,400. ....

John Kiguru , Commodity Futures Trading Commission , பண்டம் எதிர்காலங்கள் வர்த்தக தரகு ,

Tencent and Ant Group Join Digital Yuan Test as Central Bank Seeks to Expand Its Influence


Tencent and Ant Group Join Digital Yuan Test as Central Bank Seeks to Expand Its Influence
Feb 22 2021 · 14:30 UTC | Updated
Feb 22 2021 · 15:48
by John Kiguru · 3 min read
Photo: Depositphotos
Participation in the digital yuan test will provide MyBank and WeBank with new opportunities.
Tencent’s WeBank and Ant Group’s MyBank have reached a deal with Chinese regulators to pilot test the China digital yuan. The two join a list of six state-owned banks already enrolled to test the CBDC.
China keeps pushing to launch its CBDC “central bank digital currency.” In the latest development, the government has reportedly partnered with two private banks to pilot test the digital Yuan. China wants to spearhead the shift from fiat to digital currency. As some analysts have pointed out, traditional money has been long overdue for an upgrade. In this race, China has taken 6 years but looks set to finalize it in the next two years. ....

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