China Completes First Cross-Border Digital Yuan Transaction

The Bank of China’s Shanghai Branch has successfully completed the first cross-border digital yuan transaction, settling a 100 million yuan trade. The transaction involved collaboration between the Bank of China Shanghai Branch, its RMB Trading Business Headquarters, and BOC Hong Kong. This achievement reflects the synergy between the local and Hong Kong branches, marking a significant milestone in the adoption of digital yuan in international transactions. The bank has also been actively involved in developing system support for foreign financial institutions in digital RMB projects. (Source: Coingape)