China’s digital yuan stands out in cross-border pilot in a show of global ambition

HONG KONG/SHANGHAI, Oct 27 (Reuters) – China’s digital yuan took the centre stage in the world’s largest cross-border central bank digital currency (CBDC) trial to date, a report showed, pointing to how Beijing is speeding up yuan globalization efforts amid rising geopolitical tensions.China’s digital currency, or e-CNY, was the most issued, and actively transacted token in the $22 million pilot that used CBDCs to settle cross-border trades, a Bank of International Settlement (BIS) report showed.The six-week test, which ended late last month, is part of m-Bridge – a project that pilots cross-border payments in digital currencies issued by central …
Read more…….