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 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
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

Topic |   China digital currency
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 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
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
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