News Snapshot:
Six of the biggest banks in China’s megapolis Shanghai are supporting the digital yuan ahead of a May 5th shopping festival. The move represents a direct threat to the country’s top two payment providers – Alipay and WeChat Pay. The Digital Yuan vs. Alipay and WeChat Pay According to a Reuters report, some of the leading banks in China are pushing the digital yuan ahead of a shopping festival in the country. Purportedly, they are attempting to persuade merchants and retail clients to download digital wallets so that transactions during the pilot program can happen directly in digital yuan, sidestepping...
