Blockchain.io

<ul><li>Chinese blockchain firm develops new CBDC payments system.</li><li>The new platform will not allow any decentralized cryptos.</li><li>There has been no mention of China’s own digital yuan in the whitepaper.</li></ul>Hong Kong-based blockchain company Red Date Technology has introduced a new digital payments system that aims to connect the two sectors of stablecoins and <a href="https://coinedition.com/what-is-central-bank-digital-currency-cbdc/" rel="noopener noreferrer nofollow">central bank digital currencies (CBDCs)</a>. The firm introduced the payments system dubbed the Universal Digital Payment Network (UDPN), on Thursday, during the World Economic Forum (WEF) 2023 conference in Davos, Switzerland.UDPN is being developed in collaboration with GFT Technologies, a tech engineering company, and TOKO, a digital asset production engine from DLA Piper, a law firm. The UDPN whitepaper describes itself as a (Distributed ledger technology) DLT platform that would facilitate stablecoin and CBDC transactions in a manner analogous to the SWIFT network for banks.<a href="https://coinedition.com/cross-border-cbdc-payment-system-announced-by-chinese-blockchain-firm/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

Cross-Border CBDC Payment System Announced by Chinese Blockchain Firm

Coin Edition

Other articles published on Jan 23, 2023

Blockchain Technology's Effect on the Financial Sector

Panther Protocol's Weekly update (01/20/2023)

Nike Launches an NFT Marketplace – .SWOOSH

ETH Price Could Still Move Up Despite Signs Of Exhaustion

ApeSwap Upgrades Contracts To Implement Hard Cap

Bitcoin price hike splits crypto enthusiasts: market rebounded or slump expected

Join our free newsletter for daily crypto updates!