The People’s Bank of China has launched an international operations center in Shanghai to expand the global use of the digital yuan, marking a key step in cross-border payments.
The central bank announced that the new center will enhance the efficiency, inclusiveness, and transparency of international transactions powered by the digital yuan (e-CNY). PBOC Deputy Governor Lu Lei described the move as a “historical necessity” for payment systems, stressing that e-CNY will streamline global trade and improve financial inclusion.
The center is expected to serve as a cornerstone for integrating China’s digital currency into cross-border payment networks. This aligns with Beijing’s strategy to position the e-CNY as not just a domestic tool, but also a competitive option in international finance.
The initiative comes as China slows down its tokenization activities. Earlier this week, regulators instructed some Hong Kong brokerages to suspend real-world asset (RWA) tokenization projects. The shift underscores China’s priority to advance its CBDC agenda while reinforcing the role of the digital yuan in the global payment landscape.
