Hong Kong Officially Launches Digital Yuan Payments Pilot

(Bloomberg) — Hong Kong has launched a pilot program enabling digital yuan payments through its major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.

Hong Kong residents can now open digital yuan wallets with Bank of China, Bank of Communications, China Construction Bank and Industrial and Commercial Bank of China to pay merchants in mainland China directly, Hong Kong’s de facto central bank said in a statement on Friday.