Bank of China Uses Digital Yuan for Cross-Border Settlement The Bank of China’s Shanghai branch has successfully executed its first cross-border settlement using China’s digital currency, the e-CNY, for a gold transaction worth 100 million yuan ($14 million) through the Shanghai Financial Exchange International Board. This significant move underscores the branch’s active role in the pilot tests and application of the digital yuan, having previously utilized it for iron ore imports and collaborating with international banks like France’s BNP Paribas to enhance its global usage. China’s e-CNY is one of the most advanced central bank digital currency (CBDC) initiatives globally, with an initial domestic focus gradually expanding to cross-border trials, including in Hong Kong. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Nobel Economists Unite: Trump's Policies Could Trigger Inflation Surge READ MORE Here’s How Long It REALLY Takes to Recover From Stock Market Crashes READ MORE U.S. Bankruptcies Experience Significant Increase in 2023, Expected to Rise Further in 2024 READ MORE Gold Demand Hits Q2 Record Despite Consumer Pullback READ MORE Government Debt Hits $34 Trillion: Fiscal Policies Under Scrutiny READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment