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The US dollar value is tumbling further as global demand for the USD continues to plunge even more. As the American currency continues to project a wobbly price stance, nations have now started to pivot towards the Chinese Yuan, with China giving loans to nations in efforts to bolster the internationalization of its currency. Also Read: Strong US Dollar Is Dangerous: De-Dollarization Accelerates Worldwide Chinese Yuan as Loans: What’s Happening? Source: Thomas White / Reuters The world seems to have found a new way to protect itself from the US dollar volatility and onslaught. This new method involves the nations requesting Yuan-based loans in an effort to maximize their savings in the process. Kenya has become the latest example of this development, which is currently in talks with China for the same. “The moment we move from the US dollar to the renminbi, automatically, the interest rate reduces by almost half,” while adjusting the tenor of the loan would also benefit the countr...

The e-CNY app now allows tourists to top-up their wallets using Mastercard and Visa payments with a “recharge first and use later” option. Tourists planning to visit the People’s Republic of China can now pre-charge their digital yuan wallets using Visa and Mastercard payment options as the nation continues to update the mobile app powering its central bank digital currency (CBDC) pilot. The e-CNY app, which is still in its pilot version, is available to iOS and China-based Google Play Store users. The application serves individual users, allowing them to open digital yuan wallets to use e-CNY. As per the latest iOS app update published on Sept. 22, version 1.1.1 supports its top-up service with international card options. The latest version of e-CNY app on the Apple App Store introduces the top-up service for international cards. Source: e-CNY app According to a number of local Chinese news outlets, the latest version of the e-CNY app coincides with the start of the Asian Games. A tu...