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China: China launches international operation center for digital currency

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Storyline: China launches international operation center for digital currency [Voice_over] An international operation center for China's digital currency, the e-CNY, has just opened in Shanghai, officials from the People's Bank of China announced recently. The facility will promote the internationalization of the digital currency, the development of financial market services and will offer support for innovative digital finance systems, the PBOC said. The roll-out also includes three online platforms: one is a digital payment platform that will use e-CNY for international transactions; another is a blockchain platform that will allow on-chain payments and that will standardize cross-chain transactions; and the last is a platform to help existing financial institutions move onto the blockchain with ready-to-use services. The VP of China's Bank of Communications said they're looking forward to taking advantage of the new platforms. [Sound_bite] Qian Bin, deputy governor, Bank of Communication: "The cross-border digital payment platform, blockchain service platform and digital asset platform launched by the center will better assist the Bank of Communications in enhancing its digital operation and service capabilities." [Voice_over] An official of the China Construction Bank meanwhile said the blockchain platform will play a key role in its traceability efforts. [Sound_bite] Liu Jingfang, director, digital yuan promotion office, China Construction Bank: "The China Construction Bank through connecting its enterprise-level system into the central bank's digital yuan blockchain service platform and cross-border digital payment platform, will be able to provide clients with a credit traceability, low-cost, and near-instant cross-border payment experience." [Voice_over] The facility and platforms are part of a package of eight new measures unveiled by the governor of the People's Bank of China over the summer. [Restrictions : No access Chinese mainland]

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