China Opens Digital Yuan Centre in Shanghai for Global Payment Expansion

China has launched an international operations center for its central bank digital currency (CBDC), the digital yuan (e-CNY), in Shanghai. This move by the People's Bank of China (PBOC) aims to create a more efficient and inclusive global cross-border payment system.

The initiative is part of China's strategy to expand the global influence of its digital currency.
PBOC Deputy Governor Lu Lei described it as a step toward innovation in payments, emphasizing its role in improving settlement efficiency.
This comes as China restricts tokenization efforts, with regulators advising brokerages in Hong Kong to pause real-world asset (RWA) tokenization businesses.

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