Hong Kong Monetary Authority Chief Executive: Tests show that the multilateral central bank digital currency bridge project can speed up cross-border payments

CoinVoice has recently learned that on September 22, according to the Shanghai Securities News, Hong Kong Monetary Authority Chief Executive Eddie Yue said that the multilateral central bank digital currency bridge project (mBridge) in cooperation with the Bank for International Settlements and several central banks including the People's Bank of China is progressing. The latest pilot test shows that this central bank digital currency wholesale platform can speed up cross-border payments at lower costs and higher transparency. We look forward to more central banks joining this open platform.

Yu Weiwen said that a "minimum viable product" may be launched in the near future to pave the way for the gradual commercialization of mBridge. It is hoped that this new innovative platform can help solve the long-standing pain points of cross-border payments and improve the efficiency of the global value chain. [Original link]