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Nov 15, 2022 19:26
In China, the first transfer of land rights in exchange for Digital RMB happened
China's Fujian province recorded the country's first-ever land transaction paid for with the central bank's digital currency.
Fuzhou University of International Studies and Commerce paid 51 million Digital RMB for a plot of land through the Agricultural Bank of China. Using CBDC, the university also paid the required duties and taxes.
The Chinese government seeks to spread payment payments with the national state digital currency across the country, paying particular attention to unifying norms and standards. The state-run project has already involved over 15 provinces, with the volume of transactions in Digital RMB exceeding $15 billion in the first nine months of 2022.
It has recently become known that the People’s Bank of China (PBC) is testing its digital currency not only domestically but also in the United Arab Emirates, Hong Kong, and Thailand.
For Henbbo's Dubai branch, as well as for other market participants in the region, this is a great opportunity not only to test, but also to make additional profit, working with one of the most secured global cryptocurrencies.
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