Hong Kong to put mainland’s e-yuan on trial


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Hong Kong will test connecting Chinese mainland’s digital yuan with its local payments network, officials of the special administrative region said on Tuesday, the second stage of trials of China’s digital currency in the financial hub.

China’s e-CNY is one of the most advanced central bank digital currency projects among major economies. Mainland officials say the project will be initially domestically focused, but cross-border trials are also underway.

Countries around the world are looking at developing CBDCs to modernize their financial systems, ward off the threat from cryptocurrencies and speed up domestic and international payments.



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