HKMA and PBoC begin technical preparations for digital yuan pilot

Hong Kong at night
Hong Kong

Hong Kong’s central bank is preparing to test a digital yuan as part of a technical pilot with the Digital Currency Institute of the People’s Bank of China.

Eddie Yue, chief executive of the Hong Kong Monetary Authority, said the central bank was discussing testing an e-yuan for making cross-border payments.

“As the renminbi is already in use in Hong Kong and the status of e-CNY is the same as cash in circulation, it will bring even greater convenience to Hong Kong and mainland tourists,” Yue

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