Search results for mBridge
Crypto
China steps up digital yuan expansion, puts steady rollout in next five-year plan
The People\'s Bank of China has formalised a policy to develop the digital yuan steadily over the next five years, naming it a key task in its 15th five-year reform and development plan. The plan puts the digital yuan among priorities for financial infrastructure and central bank services reform, alongside payment-system improvements and tighter anti-money laundering rules. It also sets out steps to expand cross-border use, build payment networks and develop offshore yuan markets.
Crypto
Saudi cryptocurrency market seen reaching $47.8 billion by 2034, driven by youth and institutions
Saudi Arabia\'s cryptocurrency market is expected to grow to $47.8 billion by 2034, an IMARC Group report cited by Cryptopolitan showed. The market is projected to expand from $24.9 billion at the end of 2025, with average annual growth of 7.51 percent from 2026 to 2034. Drivers cited include Vision 2030, institutional investment, a young population, supportive regulations and wider blockchain use, including participation in the mBridge cross-border payments project.
Crypto
China-led CBDC project mBridge tops $55 billion in cross-border payments
Transaction volume on mBridge, a China-led cross-border digital currency platform, has grown to about $55 billion, Cointelegraph reported on Jan. 18. The multi-central bank digital currency platform has processed more than 4,000 cross-border transactions since its 2022 pilot stage, with the digital yuan making up 95 percent. China’s central bank data showed the e-CNY has handled over 3.4 billion transactions worth about 16.7 trillion yuan.