Inaugurates by China Digital Yuan Operation Center to push CBDC Integration: Report
China quietly took a brave step in its bid to expand its global trace of digital currency.
On Thursday, the People’s Bank of China (PBOC) inhabited an international operations center for the Central Bank Digital Currency, Digital Yuan (E-CNY) in Shanghai, according to a report from South China Morning Post.
PBOC Deputy Governor Lu Lei, framed the transfer as part of an “inevitable history” with the change of payments, with the aim of offering a better, companion, and open global cross-border payment system.
The initiative is intended to enhance settlement efficiency, and serve as building blocks to a wider framework for E-CNY integration.
China’s CBDC pushing came to the end of the country pulling brake efforts in tokenization efforts. Earlier this week, China’s security regulator warned some brokers To pause their real-world asset (RWA) tokenization business in Hong Kong.
Read more: China bombed brakes on RWA businesses in Hong Kong: Reuters
