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21 June 2021

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials – Bitcoin News

Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials – Bitcoin News


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Hong Kong to Connect Digital Yuan With Domestic Payments System in Cross-Border Trials – Bitcoin News.

Financial authorities in Hong Kong have announced a second phase of trials for mainland China’s digital currency.

As part of the upcoming tests, the city will link the Chinese digital yuan to its domestic payments system to evaluate the CBDC’s usability in cross-border scenarios.

And while officials in Beijing have indicated that the e-CNY is a domestic project at this stage, cross-border trials have been launched in the special administrative region of Hong Kong.

After initial small-scale experiments with digital yuan wallets, the latest testing round will check how Hong Kong residents can load the e-CNY wallets using the city’s faster payment network, Reuters reported.

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