How China's FinTechs make gains in RMB 🆚 USD
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RMB wins USD on Chinese market
Agpaytech - how China's fintechs make gains in RMB vs USD
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Fintech payments in APAC market facing disruptions: 1. Enterprises want interoperability and embedded finance. 2. Economic uncertainties cause volatile forex exchange rates. 3. Bull markets drive digital currencies: stablecoins, cryptocurrencies, and tokenization. Where does your business stands? PS: source from Forrester
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Senior Finance Manager at Industrial and Commercial Bank of China (ICBC)| Advisory Committee Member | Columnist
China’s central bank called on the financial sector to help fund technology research and M&A deals, the latest in a string of promises to revive a private sector devastated by a two-year regulatory crackdown. On Thursday, the central bank asked lenders and financial markets to provide more support for innovation and tech-related acquisitions, and to boost investment in startups. China will “push for more financial resources to be poured into the real economy and innovative areas, in order to facilitate building the country into a technology power and achieve tech self-reliance and self-improvement,” said Zhang Qingsong, deputy governor of the People's Bank of China, during a briefing. Chinese tech stocks surged this week on hopes that Beijing is ready to unfetter the pivotal sector, after subjecting the likes of Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to punishing scrutiny from late 2020. Source: Bloomberg News #china #beijing #chineseeconomy #globalfinance #banking #technology #innovation #digitaleconomy #fintech #pboc
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The future of cross-border payments between China and Africa is set to evolve. Global macro trends will significantly impact this aspect of the fintech industry. Trends suggest that the volume and diversity of China-Africa cross-border payments will grow. This will present more opportunities for fintechs to facilitate these transactions, particularly with the Africa Continental Free Trade Area agreement. To learn more, download our whitepaper on the future of cross-border payments between China and Africa: https://lnkd.in/dTPrPhYu
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With de-dollarisation accelerating across Southeast Asia, our Head of APAC, Edward Dovey, discussed this paradigm shift with The Fintech Times. As major economies like India and China reduce reliance on the US dollar for trade, this movement is gaining momentum in the region. Key takeaways: 💰The US dollar's dominance is being questioned, leading to exploration of alternate options. 💻️ Technology is revolutionising cross-border payments, but the interbank space still has room for improvement. 🤝Strategic partnerships are vital, but success requires complementary fields and shared goals. 🌏De-dollarisation is a gradual process, but its acceleration in APAC could challenge the dollar's global standing. At RTGS.global, we enable fast, cost-efficient payments worldwide - reducing reliance on any single currency. That is why we are built for now and designed to accommodate for substantial changes to the global banking industry, such as de-dollarisation. https://lnkd.in/eb7rf5-3 #crossborderpayments #payments #dedollarisation #fintech
Can De-Dollarisation Efforts be Successful in Southeast Asia? With RTGS.global | The Fintech Times
https://thefintechtimes.com
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The challenges of a more fragmented global value landscape demands fresh thinking for intfastructure builders. We’re designed for this future reality
With de-dollarisation accelerating across Southeast Asia, our Head of APAC, Edward Dovey, discussed this paradigm shift with The Fintech Times. As major economies like India and China reduce reliance on the US dollar for trade, this movement is gaining momentum in the region. Key takeaways: 💰The US dollar's dominance is being questioned, leading to exploration of alternate options. 💻️ Technology is revolutionising cross-border payments, but the interbank space still has room for improvement. 🤝Strategic partnerships are vital, but success requires complementary fields and shared goals. 🌏De-dollarisation is a gradual process, but its acceleration in APAC could challenge the dollar's global standing. At RTGS.global, we enable fast, cost-efficient payments worldwide - reducing reliance on any single currency. That is why we are built for now and designed to accommodate for substantial changes to the global banking industry, such as de-dollarisation. https://lnkd.in/eb7rf5-3 #crossborderpayments #payments #dedollarisation #fintech
Can De-Dollarisation Efforts be Successful in Southeast Asia? With RTGS.global | The Fintech Times
https://thefintechtimes.com
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China’s digital yuan transactions reached 1.8 trillion yuan ($250 billion) by the end of June. This was 18 times greater than the figure of around 100 billion yuan recorded between the digital yuan’s launch and August 2022. The latest figures also showed a massive increase to 1,895 yuan ($265), compared with 278 renminbi ($39) in 2022. This substantial surge could be due to an increase in corporate use cases. #cbdc #digitalyuan #china
Digital yuan transactions growing rapidly, PBoC says - Central Banking
centralbanking.com
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Create & Communicate - Finance, Payments/Payments Fraud, AI Tech, Risk Management, ESG, and Entrepreneurship topics pushpendramehta.com, abookinyou.com
China’s global digital payments dominance is likely to fuel AI supremacy. Listen in. I interviewed Paul Galloway, CFA, Senior Director, Advisory Services at Strategic Treasurer LLC, and Ben Poole, Writer at CTMfile on the latest episode of the OpenTreasury Podcast. Topics of discussion include the following: - China's global digital payments dominance: catalysts and future prospects https://lnkd.in/gDWcvX9c - ECB calls out PayPal, pits CBDCs against stablecoins https://lnkd.in/g4asACmk - JPMorgan chief attacks draft US bank capital rules https://lnkd.in/gJ-fHqxu - EU Commission cuts eurozone growth forecast as Germany enters recession https://lnkd.in/gJ-fHqxu #china #digitalpayments #payments #artificialintelligence #ai #germany #eurozone #stablecoins PayPal #centralbankdigitalcurrency #corporatetreasury #cfo #treasurer #cbdcommunity #cbdc JPMorgan Chase & Co. https://lnkd.in/gjtgeinc
China's global digital payments dominance: catalysts and future prospects - (TREASURY NEWS)
https://www.youtube.com/
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The Indian #Economy : Navigating a Cash Paradox 7 years after demonetisation intended toward curtailing black money and reducing counterfeiting, it has now evolved into an initiative to reduce cash from the economy and promote #digital payments. While India’s push toward the digital economy is nearing to a decade, it is one of the highest cash using #economies of the world. As a potential solution to this paradox, the introduction of Central Bank Digital Currency (CBDCs) that will streamline and regulate #business and daily digital transactions paves a way for a digitalised ecosystem. While CBDCs promise to make financial transactions more agile, transparent and fast, privacy is one of the most commonly cited risks involved with it. A legitimate concern given the ever-growing pace of digitalisation. As we navigate this transformative shift, what will be the impact of a cashless economy on our financial freedom?
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