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Director of the Central Bank Digital Currency Research Institute: Cumulative transaction volume of the Multi-CBDC Bridge is nearly 500 billion yuan.

2 hours ago

Mu Changchun, Director of the Digital Currency Research Institute of the People’s Bank of China, delivered a speech titled “Central Bank Digital Currencies Reshape Cross-Border Payments” at the 2026 Summer Davos Forum. He pointed out that new variables have emerged in the international monetary system, as stablecoins and various cryptocurrencies develop rapidly, driving the global cross-border payment system into a new phase of development. Mu disclosed that since the Currency Bridge successfully entered the continuous real transaction operation phase in June 2024, its cumulative transaction volume hit nearly 500 billion yuan by the end of 2025. The platform’s ultimate goal is to evolve into a new type of financial market infrastructure under a multilateral governance and equal-benefit model, co-built by central banks and participated by financial institutions.

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