The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have taken significant steps to expand the Digital Yuan (e-CNY)’s reach beyond mainland China. On May 17, the HKMA announced a pilot scheme enabling the use of the Central Bank Digital Currency (CBDC) for cross-boundary payments. According to the authorities, this e-CNY […]
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Hong Kong pilots first-ever digital yuan payment system for cross-border transactions