PBOC Joins Hong Kong and Thailand on Cross-Border Digital Currency Project

PBOC Joins Hong Kong and Thailand on Cross-Border Digital Currency Project

What’s New: The People’s Bank of China Digital Currency Research Institute (PBOC) has joined an international research project on cross-border payments using central bank digital currencies (CBDC), according to a Tuesday ad by the Hong Kong Monetary Authority (HKMA), which jointly launched the program with the Bank of Thailand in 2019.

The project, renamed “m-CBDC Bridge” and currently in its second phase, aims to facilitate real-time cross-border currency payment-versus-payment transactions in a multi-jurisdictional context and explore business use cases in a real-time context. border crossing using both domestic and foreign currencies.

Hong Kong’s de facto central bank, HKMA, expects the project’s findings to resolve issues related to …

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