China digital assets exchange is set to be unveiled on january 1, 2023. this platform is a joint venture between the government-backed china technology exchange and china cultural relics exchange center, huaban digital copyright service center, and the “digital collection home,” the first metaverse digital collection credit evaluation and aggregation platform in china. the platform will facilitate the trading of digital collections, digital copyrights, and property rights, and will provide digital asset registration, confirmation of rights, depository, rights protection monitoring, and copyright protection services.
Launch of the china digital assets exchange is scheduled for january 1, 2023 with a ceremony to be held in beijing. the platform will run on an underlying blockchain called “china cultural protection chain,” and users will have access to the metaverse and digital collection-related data, content, and other aggregation services. chinese yuan will be the currency used to pay for collectibles and platform fees.
Launch of the china digital assets exchange appears to open up the speculative aspect of the digital collectibles sector in china, which has been restricted until now with no secondary trading allowed. cryptocurrencies like bitcoin or ethereum will still not be available, as the platform is designed to be compliant on a national level. the platform is expected to provide users with access to digital collections, digital copyrights, and property rights, as well as registration, confirmation of rights, depository, rights protection monitoring, and copyright protection services.