China’s central bank has launched an international project to explore the use of digital currencies for cross-border payments.
The People’s Bank of China said on Wednesday that it was teaming up with the central banks of Thailand and the United Arab Emirates, as well as the Hong Kong Monetary Authority.
The project will focus on using blockchain technology to accelerate international transactions and more effective. He will also explore ways to pay in different digital currencies simultaneously.
It comes as central banks around the world are starting to seriously consider the idea of issuing digital currencies.
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