Asia’s digital payments market is poised for rapid expansion, with expectations of growing as much as 81% to $4.46 trillion over the next four years, and China helping to lead the way through the launch of a digital yuan.
China’s four largest banks have begun large-scale internal testing of the country’s digital currency, representing the latest move toward a full public release of the “digital yuan,” Chinese newspaper 21st Century Business Herald reported Thursday.
Hong Kong Exchanges & Clearing rolled out new futures offerings under a licensing agreement with MSCI on Monday, marking the latest move in the exchange’s effort to become Asia’s leading financing market.
The People’s Bank of China, the country’s central bank, moved a step closer to releasing a digital currency with the completion of the technology’s backend, a former state official reportedly told attendees at a fintech event broadcast from Beijing.
Swiss Re said on Wednesday that it expects premiums related to future infrastructure projects in emerging markets to be worth more than $50 billion over the next decade, a figure that it attributes to items such as property, engineering and energy.