China, Thailand, UAE team up to test cross-border crypto-payments

in hive-116221 •  4 years ago 

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China, Hong Kong, Thailand, and the United Arab Emirates have signed up yo participate in a a "Multiple Central Bank Digital Currency Bridge" (m-CBDC Bridge) to explore how they might conduct cross-border transactions using cryptocurrencies.

The People's Bank of China, the nation's central bank, characterised the Bridge as an experiment to find ways to make cross-border payments more efficient, cheaper, and more transparent. The Bridge extends a previous experiment conducted by China and the UAE.


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