PBOC joins Hong Kong, Thailand, UAE in cross-border digital currency project

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The digital currency research institute of the People’s Bank of China (PBOC) has joined an international research project for cross-border payments using central bank digital currencies (CBDCs), according to a statement by the Hong Kong Monetary Authority (HKMA) on Tuesday, which jointly initiated the program with the Bank of Thailand in 2019.

The PBOC Digital Currency Institute, which is in charge of minting the country’s sovereign digital currency, is joining the Multiple Central Bank Digital Currency Bridge, a cross-border payments project. The UAE’s central bank joined the project at the same time . . .

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