The Digital Yuan and Cross-Border Payments
Author: Oriol Caudevilla, Henry M. Kim
Release Date: August 17, 2022
Central banks, rev up your digital currency engines! The race to global adoption is on, and this case study of China’s e-yuan captures the first mover in action. Co-led by PhDs—one a fintech advisor, strategy consultant, and researcher based in Hong Kong/Singapore, and the other a professor at the Schulich School of Business in Toronto—the case digs into the Chinese government’s approach to the research, development, and roll out of its digital yuan. The authors analyze China’s digital currency electronic payment in terms of the government’s joint venture with SWIFT, its Regional Comprehensive Economic Partnership, and the Belt and Road Initiative, as well as in the context of the Communist Party of China’s political and economic goals. They cover the drivers of the technology, the People’s Bank of China’s careful testing of use cases, and the potential impact on Western organizations conducting business with and within China.
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