Tencent and Ant Group-Backed Banks to Join China’s Digital Yuan Trial: Report
The two commercial banks join the six state-owned banks already participating in the CBDC trial.
While these moves seem opportunistic at first glance, some of the companies are well-positioned to get involved in bitcoin mining.
Bitcoin analysts say this week's quick market rebound might be due to Chinese retail buyers buying the dip, using the stablecoin tether.
The autonomous region has been under pressure to curb its energy consumption.
Even after a price plunge of more than $10,000 over the past couple days, analysts see further selling ahead.
The project will explore the capabilities of a DLT-based central bank digital currency in regional payments.