Shanghai, Tuesday, December 19 – The Bank of China’s Shanghai branch had successfully executed a 100 million yuan ($14 million) e-CNY CBDC settlement received from overseas for gold through the Shanghai Financial Exchange International Board. 1
A spokesperson for the Bank of China stated that the account will contribute financial strength to support Shanghai’s in-depth implementation of the free trade pilot zone promotion strategy.
Bank of China Shanghai is currently at the forefront of supporting digital yuan pilot testing and recently facilitated the import of iron ore to China via the CBDC.
The institution also collaborates with foreign entities, such as France’s BNP Paribas, in the development of the digital yuan.
On December 1, China signed a $400 million memorandum on CBDC cooperation with the United Arab Emirates. On December 19, the most recent update for the official digital Yuan app was released.
The new version enables users to create a digital yuan wallet using their phone number, disable their wallet if their phone is lost, and reset their password and private keys. Users can also link their personal bank accounts and debit cards to purchase digital yuan within the wallet.
- Coin Telegraph: https://cointelegraph.com/news/first-14-million-cross-border-e-cny-gold-purchase-completed-shanghai[↩]
