On July 15, the UK announced plans to launch its first digital sovereign bond, DIGIT, in early 2027, aiming to become the first G7 country to issue government debt on a distributed ledger infrastructure. The bond will be denominated in pounds and issued through HSBC's Orion platform, operating within the digital securities sandbox of the Bank of England and the Financial Conduct Authority. This initiative aims to test the feasibility of blockchain infrastructure in reducing settlement times, streamlining reconciliation processes, and lowering operational costs. Bank of England Governor Andrew Bailey stated that the central bank will work to ensure that the bond qualifies as market operational collateral in the future. Currently, the UK Treasury has not disclosed details regarding the bond's issuance size, duration, coupon rate, investor eligibility criteria, or settlement assets.
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UK Plans to Issue First Digital Sovereign Bond in Early 2027
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Visa Approved to Prepare for Card Clearing Institution in China
On October 13, according to CCTV, today the People's Bank of China announced that it has approved Visa Inc. (the legal entity established by Visa in China as a foreign-invested enterprise) to prepare for a card clearing institution. This approval only grants the 'preparatory qualification' and does not mean that Visa can directly commence operations. After obtaining the preparatory qualification, Visa must complete all preparatory work within one year as per regulatory requirements. Once ready, it can submit an application to commence operations. This application will need to be reviewed jointly by the People's Bank and the National Financial Regulatory Administration. Only after passing the review and receiving the card clearing business license can Visa be considered to have formal permission. Until the final license is obtained, Visa cannot issue Visa-branded RMB cards domestically or provide RMB card clearing services to domestic entities. Currently, Visa's operations in China are focused on cross-border transactions with foreign currency cards. Existing regulations clearly state that simply providing cross-border foreign currency card clearing services does not require the establishment of a card clearing institution in China. This is why domestic users can use Visa foreign currency cards for overseas purchases, and foreign individuals can use Visa foreign currency cards in China, but Visa is currently unable to engage in RMB clearing services for domestic RMB cards. In simple terms: Visa can currently handle cross-border foreign currency card transactions; however, it cannot yet provide clearing services for domestic RMB card transactions. -
Nvidia's Market Share in China's AI Chip Sector Drops to 34%
On October 13, according to Reuters, a report from International Data Corporation (IDC) revealed that Nvidia's market share in China's data center AI chip market fell to 34% in the first half of 2026. The decline is attributed to U.S. export controls limiting product supply, allowing local competitors led by Huawei to gradually expand their market presence. IDC data shows that Nvidia's AI accelerator shipments in the Chinese market totaled 678,000 units in the first half of this year, a year-on-year decrease of 44%. AI accelerators are specialized chips used for training and running AI models. IDC reported that Huawei's AI accelerator shipments increased from over 300,000 units a year ago to 572,000 units, capturing 28% of the overall market. Alibaba's chip design company, Tianshu Zhixin, holds a 7% market share, followed by Cambricon (5%), Baidu's Kunlun (4%), and Haiguang Information (3%). Among the 11 Chinese chip manufacturers tracked by IDC, 9 have seen an increase in shipments compared to a year ago. -
BTC Surpasses $84,000
Market data shows that BTC has surpassed $84,000, currently priced at $84,016.01, with a 24-hour change of 0%. The market is experiencing significant volatility, so please ensure proper risk management. -
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US Spot Bitcoin ETF Sees $65.4 Million Net Outflow Yesterday
On October 13, according to data monitored by Farside Investors, the US spot Bitcoin ETF experienced a net outflow of $65.4 million yesterday. -
US Spot Ethereum ETF Sees $85.4 Million Net Outflow Yesterday
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Tom Lee: Significant Decline in South Korean Stock Market May Impact Crypto Market
On October 13, Tom Lee, chairman of BitMine, expressed that the significant decline in the South Korean stock market may be spreading to the crypto market. Margin liquidations in the South Korean securities market could trigger a chain reaction, as South Korean investors are a key holding group in cryptocurrencies. The market may face growing pains in the short term. -
DeepSeek to Complete 100 Billion Yuan Financing
On October 13, several participants in the transaction indicated that the large model company DeepSeek is set to complete its latest round of financing soon, with the amount increasing from the previously planned 50 billion yuan to approximately 100 billion yuan. This marks DeepSeek's second round of financing, with the intended amount doubling in less than half a month. The investment amounts from new and existing shareholders are expected to be roughly equal. The doubling of the financing scale has not affected the overall valuation, which remains at approximately 500 billion yuan pre-financing. New investors in this round include Stone Creek Capital, SMIC Juyuan, CPE Yuanfeng, Legend Capital, and Geely, primarily consisting of industrial investors. (Finance Magazine) (Jin Ten)
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