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Home > Agent Oversight And Monitoring > China Proposes East-Asian Digital Currency
Jun19 - 20

China Proposes East-Asian Digital Currency

A growing number of nations are looking to develop digital versions of their currencies, and now there might be regional initiatives taking shape to target the U.S. dollar’s supremacy on the global stage.

For instance, Nikkei Asian Review recently reported that Chinese officials are mulling developing an “East Asia digital currency” in what might be a new front in the race among nations to issue fiat rendered in bits and bytes.

The publication said China would back the new digital currency with a basket consisting of the Chinese yuan, Japanese yen, Hong Kong dollar and the South Korean won. The yuan and yen are likely to account for about 60 percent and 20 percent, respectively, of the digital currency’s value. Read the complete article HERE.

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