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 has sparked a surge in interest for digital payments as China’s banks introduce interest-bearing digital yuan red packets to boost consumption during the Lunar New Year season. This marks the first time users can earn interest on their digital yuan balances, aligning with Beijing’s shift toward treating the central bank digital currency (CBDC) as a deposit rather than cash. Meanwhile, South Korean fintech giants like Toss and Mirae Asset are making moves to acquire crypto exchanges, signaling a growing convergence between traditional finance (TradFi) and cryptocurrency. These developments highlight the evolving role of digital currencies in Asia’s financial landscape. The interest-bearing feature of digital yuan hongbao aims to encourage spending during China’s peak retail period, the Spring Festival. This initiative follows the People’s Bank of China’s decision to reclassify wallet balances as commercial bank liabilities, further integrating the digital currency into the traditional banking system. While the digital yuan remains tightly controlled and restricted to China’s borders, its interest-bearing feature could boost adoption domestically. In contrast, major U.S. crypto platforms like Coinbase have withdrawn support for a market structure bill over stablecoin regulations, underscoring differing regulatory approaches. South Korea’s fintech sector is also undergoing a transformation as companies like Toss explore

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Originally published on CoinTelegraph on 2/16/2026