PBoC to study cross-border payments in digital yuan

Digital yuan

China will explore the use of digital yuan in cross-border payments to improve efficiency and promote renminbi internationalisation, the People’s Bank of China (PBoC) said in a report on July 16.

The digital yuan is technically ready for cross-border use, but is currently used primarily to meet domestic retail payment needs, the PBoC said in the white paper.

The PBoC will explore cross-border payments on the premise of fully respecting the currency sovereignty of both countries and complying

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