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 What Is the Gold Spot Price and How Is It Set? READ MORE Fed's Daly: Cooling Inflation May Warrant One or Two Rate Cuts in 2024 READ MORE Gold's Unpredictable Dance with Interest Rates: Morgan Stanley Reveals a Weakening Bond READ MORE Gold Prices Rise Despite Weekly Downtrend as Fed Minutes Signal Caution READ MORE Record High Credit Card Debt Strains American Finances Amid Inflation READ MORE Add a Comment Cancel replyYour email address will not be published.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