China Starts Digital Yuan Interconnection with Hong Kong Payment System During the 19th Asian Games.
Digital yuan, China's central bank digital currency, launched a new interconnection feature with Hong Kong's banking system that allows visitors and tourists to create and top up digital yuan wallets using foreign accounts. The system designed by the Digital Currency Research Institute of the People's Bank of China (PBOC) connects digital yuan wallets with the Faster Payment System (FPS) of the Hong Kong Monetary Authority.
The feature, announced previously, brings some real benefits to travelers who can use digital yuan to make payments without using alternative payment methods, and top up first. People's Daily, a Chinese government outlet, commented on the effort, stating that the digital yuan system is “more controllable,” with shorter transaction links and lower transaction fees.
Digital yuan, China's central bank digital currency, launched a new interconnection feature with Hong Kong's banking system that allows visitors and tourists to create and top up digital yuan wallets using foreign accounts. The system designed by the Digital Currency Research Institute of the People's Bank of China (PBOC) connects digital yuan wallets with the Faster Payment System (FPS) of the Hong Kong Monetary Authority.
The feature, announced previously, brings some real benefits to travelers who can use digital yuan to make payments without using alternative payment methods, and top up first. People's Daily, a Chinese government outlet, commented on the effort, stating that the digital yuan system is “more controllable,” with shorter transaction links and lower transaction fees.