China’s central bank and the Hong Kong Monetary Authority, or HKMA, are in the preliminary stages of piloting the digital yuan for cross-border payments — underscoring another key development in the rollout of a central bank digital currency, or CBDC.
In a media release that appeared on the HKMA website on Friday, chief executive Eddie Yue provided an update on the ongoing work surrounding cross-border payments. He indicated that HKMA is in dialogue with the People’s Bank of China, or PBoC, to begin pilot testing the e-CNY.
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