Chinese New Year boosts interest, TradFi buying crypto exchanges: Asia Express

CoinTelegraph

by Yohan Yun

February 16, 2026

AI-Generated Deep Dive Summary

Chinese New Year celebrations have sparked renewed interest in digital payments, particularly through China's central bank digital currency (CBDC), the digital yuan. In an effort to boost retail spending during the Lunar New Year, Chinese banks are distributing digital yuan red packets that now offer interest-bearing features. This innovation, which allows users to earn interest on their digital yuan balances, has encouraged consumers to maintain larger holdings in their wallets. Meanwhile, South Korean fintech giants like Toss and Mirae Asset are making moves in the crypto space, with reports of potential acquisitions of international crypto exchanges. These developments highlight a growing convergence between traditional finance (TradFi) and cryptocurrency, particularly in Asia. The digital yuan's interest-bearing feature is part of China's broader push to integrate its CBDC into the financial system. Unlike traditional digital cash models, wallet balances are now treated as commercial bank liabilities, aligning more closely with deposit accounts. This shift reflects China's strategic focus on regulating and promoting digital currency adoption within a tightly controlled financial ecosystem. While the digital yuan is not yet fully integrated into global markets, its interest-bearing feature could serve as a competitive advantage against other stablecoins in the region. South Korea's fintech sector is also experiencing a wave of mergers and acquisitions, with major players like Toss and Mirae Asset pursuing crypto exchange acquisitions. These moves signal a broader trend of financial institutions embracing blockchain technology and digital assets to stay competitive. For instance, Toss, one of South Korea's largest fintech platforms, is exploring the acquisition of an overseas crypto exchange focused on institutional trading. Similarly, Mirae Asset has agreed to acquire Korbit, one of the country's licensed exchanges, in a deal valued at nearly $100 million. The growing adoption of digital currencies by traditional financial institutions underscores the potential for blockchain technology to reshape global finance. The integration of interest-bearing features into CBDCs and the expansion of crypto-related services by established financial players are indicators of this shift. As China and South Korea continue to explore innovative uses of digital currencies, they may set precedents for other nations looking to balance regulatory oversight with technological innovation in the financial sector.

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Originally published on CoinTelegraph on 2/16/2026