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What happened to cryptocurrencies today? ETH options all-time high | HSBC brings cryptocurrencies to China
The digital yuan is a digital version of the country’s fiat currency, the yuan (CNY), and is designed to partially replace physical cash in circulation. In a statement HSBC Bank (China) announced that corporate clients can now link their accounts to e-CNY wallets for wealth management purposes.
The bank has already facilitated e-CNY payments for an education group in six of its branches in Shanghai, Beijing, Guangzhou, Jiaxing and Suzhou. The People’s Bank of China, the nation’s central bank, launched digital currency pilot programs in late 2019, gradually expanding them to include various regions of the country.
Although the government has started paying government employees in e-CNY in selected cities, several users remain reluctant to pay with e-CNY due to functional limitations and privacy concerns. In an effort to bolster the usage of e-CNY, Hong Kong recently announced that residents could set up personal e-CNY wallets for cross-border transactions.
ETH options volume on CME hits new all-time high
The Chicago Mercantile Exchange (CME) saw crypto derivatives trading volume plummet 7.42% to $115 billion in May, marking its second consecutive monthly decline.