PBoC to study cross-border payments in digital yuan
Central bank confirms digital yuan will be direct central bank liability
China will explore the use of digital yuan in cross-border payments to improve efficiency and promote renminbi internationalisation, the People’s Bank of China (PBoC) said in a report on July 16.
The digital yuan is technically ready for cross-border use, but is currently used primarily to meet domestic retail payment needs, the PBoC said in the white paper.
The PBoC will explore cross-border payments on the premise of fully respecting the currency sovereignty of both countries and complying
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on CBDC
Programmable money ‘a key benefit of CBDCs’
However, Central Banking Autumn Meetings hear that use case for a retail version is “missing”
E-krona adviser on offline trials, legislative changes and rollouts of CBDCs
Sveriges Riksbank’s Johan Schmalholz speaks about latest CBDC developments on sidelines of Central Banking’s Windsor training series
BdF deputy governor softens digital euro regulatory stance
Beau says central bank money is safer, more liquid and less volatile than stablecoins
BIS to hand over Project mBridge to central banks
CBDC platform does not help Brics countries evade sanctions, says Agustín Carstens
CBDC design key to maintaining financial stability – IMF paper
Macro-prudential tools unlikely to be enough to offset risks from issuance of digital currencies
Central banks should collaborate on cross-border CBDCs – Nagel
Bundesbank president talks of “historic opportunity” to improve payments and avoid risk
Central bank digital currencies must be user-friendly – ECB study
To be widely adopted, CBDCs will need to combine best aspects of existing payment methods
Previous CBDC research based on outdated assumptions – ECB paper
Authors say rejecting digital cash would have adverse unintended consequences