Bank of Communications Macau Joins mBridge, Launching Business Operations

Local banks complete 23 cross-border transactions on first day of mBridge participation

After joining mBridge, the Multilateral Central Bank Digital Currency (CBDC) Bridge, local banks completed 23 cross-border transactions on the first day, according to the Monetary Authority of Macao (AMCM). AMCM said the transactions, conducted on June 3, were carried out by three of the 11 banks initially approved to operate on the platform. The CBDC system supports both commercial settlements and international remittances and is considered “a …

Macau goes live on mBridge cross border CBDC platform - Ledger Insights - blockchain for enterprise

On Tuesday Macau officially went live on mBridge, the DLT-based cross border payment system that uses central bank digital currencies (CBDCs). Eleven commercial banks have access, several of them being Macau branches of China’s largest banks, which are already connected via mainland China and Hong Kong. While mBridge is operational in Macau for cross border […] The post Macau goes live on mBridge cross border CBDC platform appeared first on Ledg…

Bank of Communications Macau Joins mBridge, Launching Business Operations

June 4 – Macau’s BoCom branch became part of the first group of institutions approved by the local Monetary Authority to participate in an innovative cross-border payment project on June 1. Just a day later, on June 2, the branch completed two significant transactions in Macau: it processed an e-MOP (digital Macau Pataca) cross-border remittance for Macao Industrial Limited, and handled a RMB 500 million digital yuan cross-border collection for …