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Peak Fintech Group Inc.: Peak Implements Chinese Digital Currency and Welcomes China's 2nd Largest Steel Supplier to its Ecosystem


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Montreal, Quebec (Newsfile Corp. - December 11, 2020) -Peak Fintech Group Inc. (CSE: PKK) (OTCQX: PKKFF) ( Peak or the Company ), an innovative Fintech service provider to the Chinese commercial lending sector, today announced that its Gold River and Cubeler Lending Hub platforms are now ready to support China s new Digital Currency Electronic Payment (DC/EP).
Unlike cryptocurrencies such as Bitcoin, China s DC/EP is legal tender, it s backed by yuan deposits, centralized and not anonymous. It is managed by China s Central Bank, which requires the country s banks to convert a part of their yuan holdings into DC/EP form and distribute them to businesses and citizens via mobile technology. The DC/EP took over five years to develop and is expected to help bring China s unbanked population into the mainstream economy and accelerate the country s move to a cashless society. ....

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