During a trial of the Digital Currency Electronic Payment in Suzhou in December, users downloaded a specialised app for paying with digital yuan. Photo: Kyodo
Beijing is exploring digital yuan cross-border payments by joining with Hong Kong, Thailand, UAE and the Bank of International Settlements
- The People’s Bank of China is joining the Multiple Central Bank Digital Currency Bridge, a project exploring cross-border payments using distributed ledgers
- After a joint venture with SWIFT, the project is the latest step towards Beijing’s long-term goal of internationalising the yuan at the expense of the US dollar
During a trial of the Digital Currency Electronic Payment in Suzhou in December, users downloaded a specialised app for paying with digital yuan. Photo: Kyodo
