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Changchun Mu, an executive from the People’s Bank of China (PBOC), stated that the digital yuan needs to be available in retail scenarios. According to the local source Paper, Mu explained at a trade forum in Beijing that the central bank digital currency (CBDC) should be available on different wallet providers like Alipay and WeChat, as well as various bank providers and other payment providers like e-CNY operators. Mu added that the first step in the evolution process towards the digital yuan would be to start using it as a payment tool. He said that from a technical perspective, they could begin unifying QR code standards to achieve barcode interoperability. You might also like: China’s digital yuan hits $250 billion in transactions The People’s Bank of China has been developing the e-CNY and launched a pilot app in January 2022. After the digital yuan beta test in late 2019, the institution tested the CBDC in 26 locations in 17 provincial-level cities and regio...

Explore a brief history of digital banking, tracing its evolution from early automation to the integration of new technologies, such as IoT and blockchain. Digital banking, also known as online banking or e-banking, refers to the delivery of financial services through digital channels such as the internet, mobile devices and automated teller machines (ATMs). Digital banking has become increasingly popular in recent years, but its origins can be traced back several decades. Here’s a brief history of digital banking. Early automation (1960s to 1980s) The first forms of digital banking can be traced back to the 1960s, when banks began using mainframe computers to automate various banking functions such as check processing and customer account management. In the 1980s, banks started offering dial-up services that allowed customers to access their accounts through their home computers. In the 1960s, Bank of America introduced the first ATM, which allowed customers to withdraw cash from the...

German asset manager DZ Bank collaborated with Swiss technology firm Metaco to add digital asset management into its services. DZ Bank, Germany’s second-largest bank in terms of asset size, will fully integrate digital currencies into its asset management services in collaboration with the digital asset firm Metaco. According to the announcement sent to Cointelegraph, DZ Bank selected Metaco's custody platform Harmonize to offer digital currencies to its institutional clients. Nils Christopeit, an executive at DZ Bank, said that the Metaco Harmonize platform suits their requirements in terms of security and scalability. “With the offering, we can build by using this technology, we trust to create a durable and fast-growing Business cooperation as well as an attractive solution for our clients that can also meet the requirements of digital currencies and decentralized financial instruments,” Christopeit added. Craig Perrin, the chief sales officer at Metaco, also commented on t...