Zhou Xiaochuan: Project mBridge Aims to Bridge Global Economies With Central Bank Digital Currencies

Project mBridge addresses a growing demand driven by the rapid development of interconnections among Asian economies. As regional trade, investment and people-to-people exchanges accelerate, the need for a more efficient, independent and localized payment system becomes increasingly urgent.

(Editor’s note: Project mBridge was initiated in 2021 by authorities on the Chinese mainland, Hong Kong, the UAE and Thailand, with Saudi Arabia joining in June. The project seeks to use central bank digital currencies to make cross-border payments faster, cheaper and safer.)