The digital yuan of People’s Central Bank of China (PBoC) is about to expand into the world of asset management but also education.
Second Shanghai Stock Newsthe brokerage and investment bank Titles of the Chinese galaxylisted on the Hong Kong Stock Exchange, it will allow customers who pay in digital yuan to access OTC-style wealth management products.
The company will offer these products to a limited number of customers in Beijing and other parts of the pilot area defined for this digital yuan. But in the end, clients across the country will be able to place their holdings in digital yuan in public funds and other investment vehicles.
The company has approximately 13 million brokerage clients. New measures could allow the company (which is so far the only brokerage firm to have received permission from the PBoC to trade the digital yuan in this way) to offer users digital yuan options to purchase securities.
Wealth Management, Securities and Education
According to the media Zhejiang onlinethe educational effort is the result of a collaboration between the finance department of Zhejiang province, the budgetary authorities of the Hangzhou Gongshu district and a branch of theIndustrial and Commercial Bank of China, one of the largest Chinese banking operators. note that this bank has been particularly active in the digital yuan pilot.
The agencies opened what they called a “digital yuan non-tax payment channelThis means that citizens can use this channel to pay local authorities. services that are not subject to local taxation – such as kindergarten fees.
There are already separate channels for Hangzhou citizens who want to pay local taxes using the digital yuan.
The newspaper cites the example of Kyoto Experimental Kindergarten, in Hangzhou, which has added digital yuan payment options to its payment platform. Previously, parents had to pay the fees by bank transfer or Alipay electronic payment network.
This news comes just days after Chinese e-commerce giant Meituan announced it would distribute digital yuan and offline “physical” wallets to celebrate the Lunar New Year. The company is one of many companies promoting crypto as a payment tool on their platforms.
Follow our affiliate links:
- To buy cryptocurrencies in the SEPA zone, in Europe and French citizensvisit Coinhouse
- To buy cryptocurrency in Canada visit bitbuy
- To protect or store your cryptocurrenciestake a wallet Ledger
- To trade your cryptocurrencies anonymouslyinstall the app NordVPN
To accumulate coins during the game:
Stay informed through our social networks: