Important news came from China and the companies that will buy the cryptocurrency first have been announced! These will be the first institutions to distribute China’s cryptocurrency.
Companies that will first buy China’s cryptocurrency have been identified
According to a recent claim, cryptocurrency supported by the Central Bank of China will be given to online retail giant Alibaba, internet giant Tencent, five banking institutions and an unknown institution. Paul Schulte, who previously served as President of the Construction Bank of China and worked on China’s cryptocurrency project, said he did not want to name the first institutions, Forbes reported on August 27th. But now the first recipients of China’s cryptocurrency have been announced. In addition to giants such as Alibaba and Tencent, the first institutions to use cryptocurrency were china construction bank, China Industry, and Trade Ban, China Bank, Chinese Agricultural Bank, and Chinese Banking Association Payment.
Anonymous source first confirmed that these seven institutions were the first buyers of China’s central bank-backed cryptocurrency. In addition, an anonymous institution would be among the first to use the cryptocurrency. He also says the technology is ready, but the cryptocurrency could be released in November. The seven institutions are known to be responsible for distributing the new cryptocurrency produced to Chinese citizens and for providing a gradual transition to the cryptocurrency instead of the Yuan. Sources also add that the new cryptocurrency is supported not only to Chinese citizens but also to the United States. China has signaled that its cryptocurrency could be released earlier than Libra.