{"id":48166,"date":"2021-08-23T19:00:17","date_gmt":"2021-08-23T16:00:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48166"},"modified":"2025-09-02T00:52:30","modified_gmt":"2025-09-01T21:52:30","slug":"china-tests-digital-yuan-in-settlements-for-commodity-futures-trades","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/china-tests-digital-yuan-in-settlements-for-commodity-futures-trades\/","title":{"rendered":"China tests digital yuan in settlements for commodity futures trades"},"content":{"rendered":"<p>Participants on the commodity exchange in Dalian (DCE) have for the first time used the digital yuan to pay the commission for the delivery of goods under a futures contract, according to the China Securities Journal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u201cChina&#8217;s digital fiat currency, or the e-CNY, has been used for the first time for transactions in the domestic futures market, the China Securities Journal reported on Monday\u201d<a href=\"https:\/\/t.co\/PG4wBJKjCv\">https:\/\/t.co\/PG4wBJKjCv<\/a><\/p>\n<p>\u2014 Aadil Brar (@aadilbrar) <a href=\"https:\/\/twitter.com\/aadilbrar\/status\/1429768473261924352?ref_src=twsrc%5Etfw\">August 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Local branches of Bank of Communications and Bank of China facilitated the trades.<\/p>\n<p>The use of the digital yuan in the futures market has become an efficient, accessible and secure real-time payments alternative, according to sources at the publication.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cPayments in the DCEP do not incur fees and are not limited by the payment system&#8217;s operating hours. Market participants gained the ability to monitor the progression of transactions in real time\u201d<\/em>, \u2014 explained Jiang Bin, a spokesperson for the exchange.<\/p>\n<\/blockquote>\n<p>The DCE plans to expand the use of the digital yuan.<\/p>\n<p>As part of the ongoing DCEP testing, Beijing&#8217;s municipal authorities fully <a href=\"https:\/\/video.sina.cn\/finance\/2021-08-03\/detail-ikqcfncc0609798.d.html?vt=4\">integrated<\/a> the digital yuan into the payment ecosystem.<\/p>\n<p>Earlier in China <a href=\"https:\/\/u1f987.com\/en\/news\/china-to-trial-digital-yuan-with-restricted-use-cases\">tested<\/a> the digital yuan with programmable use cases. The ICB\u0421 in Beijing <a href=\"https:\/\/u1f987.com\/en\/news\/beijing-atms-gain-option-to-convert-yuan-into-cbdc\">added<\/a> an option to convert the national currency into DCEP at ATMs.<\/p>\n<p> Sign up for ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 all the news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Participants on the commodity exchange in Dalian (DCE) have for the first time used the digital yuan to pay the commission for delivering goods under a futures contract, according to the China Securities Journal.<\/p>\n","protected":false},"author":1,"featured_media":48167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,133,1198,1369],"class_list":["post-48166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-china","tag-crypto-payments","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48166"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48166\/revisions"}],"predecessor-version":[{"id":48168,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48166\/revisions\/48168"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48167"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}