Yuan-denominated bank guarantee issued on blockchain in Russia.
The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan payments is growing.Moscow Credit Bank has issued what it described as Russia’s first digital bank guarantee for an amount exceeding 100 million Chinese yuan, using blockchain technology — the Masterchain platform developed by the Central Bank of Russia.
“This is the first digital bank guarantee in the market, which was issued in yuan, through the Masterchain system. Most foreign trade contracts are serviced in Chinese currency, and the demand for payments in yuan is only growing,” commented Natalya Bahova, director of MKB’s International and Structured Finance Department.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grand test for Indian diplomacy as American, Chinese and Russian ministers meet in Delhi | CNNForeign ministers from the world’s biggest economies have convened in New Delhi, setting the stage for a grand test in Indian diplomacy as it attempts to navigate tensions over Russia’s brutal and unprovoked invasion of Ukraine.
Read more »
Silvergate Stock Plunges as Bank Says It May Face DOJ, Congressional and Bank Regulator InquiriesNEW: Silvergate Bank announced it would have to delay publishing its annual report, and hinted at increased regulatory scrutiny in a new filing. nikhileshde SteveAlpher report
Read more »
Three Japanese Banks Start Stablecoin ExperimentThree Japanese domestic banks have started a stablecoin experiment involving local governments and private companies. By amitoj
Read more »
USD/CNY: Yuan could see a modest appreciation in the coming quarters – CommerzbankUSD/CNY rose for the fifth consecutive week from 6.70 in mid-January to 6.96 last week. Economists at Commerzbank believe that the pair could move bac
Read more »
Dollar slides, yuan gains on China PMI; inflation data lifts euroThe dollar eased and China's yuan gained on Wednesday after China's manufacturing activity expanded at its fastest pace since April 2012, while the euro rose after regional German price data added to inflation worries.
Read more »
Hong Kong citizens not interested in digital yuan: ReportsIn the first four days since the “digital yuan” hard wallets became accessible to the islanders, only 625 Hong Kongers had actually obtained them, local media reported.
Read more »