News Snapshot:
Digital yuan poses no threat to global monetary systems says former head of Chinas central bank By 0 China’s new sovereign digital currency could transform cross-border trade due to its ability to process payments and handle foreign exchange transactions simultaneously. That’s according to the former head of the People’s Bank of China, Zhou Xiaochuan, who told the Shanghai Financial Forum that one of the major benefits of using a digital system is that it allows both payments and currency conversions to happen in real time. “If the currency exchange is realized at the moment of a retail transaction, and there...
