Chinese New Year boosts interest, TradFi buying crypto exchanges: Asia Express

Are Digital Yuan And Crypto Deals Reshaping Asia?

Asia is rewriting its financial playbook at remarkable speed. Governments and financial giants now move with urgency as technology reshapes money. This Chinese New Year, China pushed Digital Yuan adoption by distributing digital currency gifts to citizens. Officials aim to boost spending and normalize central bank digital currency usage in daily life. At the same time, traditional finance firms in South Korea and Japan scramble to secure positio…

Chinese New Year boosts interest, TradFi buying crypto exchanges: Asia Express

Digital yuan hongbao now comes with interest China’s banks are rolling out digital yuan red envelopes (hongbao) and payment discounts ahead of Lunar New Year to boost consumption. Red envelopes are a Lunar New Year tradition in China and parts of Asia in which money is gifted to loved ones as a symbol of sharing good fortune. In recent years, the practice has been digitized through mobile payments and the central bank digital currency (CBDC). In…