China has taken a bold step in its attempt to expand the global footprint of its digital currency.
On Thursday, the Popular Bank of China (PBOC) inaugurated an international operations center for its digital currency of the Central Bank, the Yuan Digital (E-CNY) in Shanghai, according to a report by the South China Morning Post.
The vice governor of PBOC, Lu Lei, framed the measure as part of a “historical inevitability” in paying innovation, with the aim of offering a more efficient, inclusive and open global cross -border payment system.
The initiative is intended to improve the efficiency of the settlement and serve as construction blocks towards a broader framework for E-CNY integration.
The impulse of CBDC of China is produced following the country that slows the tokenization efforts. Earlier this week, the China Stock Regulator warned some stockbrokers to pause their real -world asset tokenization businesses (RWA) in Hong Kong.
Read more: China pumps RWA’s brakes in Hong Kong: Reuters
