PBOC agencies, SWIFT, set up joint venture as Beijing eyes internationalization of digital yuan

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SWIFT, the world’s largest electronic payment messaging system, has set up a joint venture with both the Digital Currency Research Institute and the China National Clearing Centre within the People’s Bank of China (PBOC), in a sign that China is exploring global use of its planned digital yuan.

The new entity, Finance Gateway Information Service, was registered in Beijing on January 16 with €10 million (US$12 million) as incorporation capital, according to the National Enterprise Credit Information Publicity System, the Chinese government’s enterprise credit information agency.

SWIFT is the largest shareholder . . .

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