China Onboards 26 Global Institutions to Its New Digital Yuan Cross-Border Payment Network
Key Takeaways Central Bank of China added 26 banks to CBETS on Tuesday to boost cross-border digital yuan adoption. Mbridge hit $55B in volume by January, with 95% in digital yuan, aiming to challenge SWIFT’s market share. In April, the yuan dropped to 2.85% on SWIFT, as firms seek alternatives to avoid market sanctions. China
