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China Opens Shanghai Hub to Expand the Digital Yuan’s Cross-Border Use

The PBOC unveiled a three-platform stack to push e‑CNY into international finance.

Overview

  • The international operations center opened in Shanghai on Thursday, establishing dedicated infrastructure for the currency’s overseas role.
  • The PBOC introduced a cross‑border digital payment platform to pilot e‑CNY settlements for faster international transactions.
  • A blockchain service platform will enable on‑chain payments plus standardized cross‑chain information transfers between systems.
  • A digital‑asset platform will let existing financial infrastructure plug into ready‑to‑use tokenized asset services.
  • Officials said the center aims to improve global cross‑border payment systems, building on plans outlined by Pan Gongsheng in June, while reports indicate yuan‑pegged stablecoins are still being explored.