Tag: Digital RMB Payment System
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China’s Cross-Border Digital RMB Payment System: A New Era for Global Finance
China’s digital renminbi (RMB), also known as the e-CNY, is rapidly transforming the landscape of international finance. With the launch of its cross-border payment system, China is not only enhancing the efficiency of global transactions but also challenging the long-standing dominance of the U.S. dollar in international trade. The Emergence of the Digital RMB The…
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China’s Cross-Border Digital RMB Payment System Challenges Dollar Dominance
On March 17, 2025, the People’s Bank of China unveiled a pivotal shift in global finance: the digital RMB cross-border settlement system is now fully connected to the ten ASEAN nations and six Middle Eastern countries. This move instantly expands digital yuan interoperability to cover nearly 38% of global trade, enabling participants to bypass the…