China Launches e-CNY International Operations Center in Shanghai

The People’s Bank of China said the e-CNY International Operations Center has officially started operations in Shanghai, introducing three business platforms: a cross-border payment platform, a blockchain service platform for standardized on-chain transactions, and a digital assets platform offering financial-grade services. The initiatives aim to tackle inefficiencies in cross-border payments, enable on-chain e-CNY settlement for blockchain applications, and support financial institutions in expanding into digital asset services. The launch follows a plan first outlined by PBOC Governor Pan Gongsheng in June to promote the cross-border use of e-CNY and advance digital finance innovation. [CLS, in Chinese]