China links CBDC to Hong Kong’s fast payments system

The People’s Bank of China has expanded its central bank digital currency (CBDC) pilot by linking it to Hong Kong’s fast payments system and allowing local residents to top up their wallets.

The new interoperability “marks the first linkage of a faster payment system with a central bank digital currency system in the world”, the Hong Kong Monetary Authority said in a statement on May 17.

Hong Kong residents can top up their e-CNY wallets via the Faster Payment System through 17 retail banks.

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