According to ME News, on June 1 (UTC+8), Liu Xingjuan, a member of the Monetary Authority of Macao, announced that Macao has successfully applied to become a formal member of the multilateral Central Bank Digital Currency bridge (mBridge) project and completed system integration. Eleven local banks have been approved as participating institutions, and the system will officially launch on June 2. Deputy Governor of the People’s Bank of China, Lu Lei, expressed his expectation that the “Digital Macanese Pataca” system will connect with the PBOC’s cross-border settlement service platform, providing a more transparent, secure, and low-cost payment channel for economic and trade exchanges between China and Portuguese-speaking countries. Huang Shanwen, Chairman of the Monetary Authority of Macao, stated that Macao is advancing the development of the “Digital Macanese Pataca” in line with the 15th Five-Year Plan, promoting the internationalization of the renminbi and strengthening Macao’s role as a hub for China-Portuguese-speaking countries financial services. Zhang Hui, President of Bank of China, noted that Bank of China Macao, as one of the first participating institutions, will drive full-process automation of cross-border remittances and establish a multi-channel access mechanism. These details were disclosed at the “High-Level Seminar on the Development and Cross-Border Innovative Applications of Central Bank Digital Currencies between China and Portuguese-Speaking Countries,” hosted by the Monetary Authority of Macao, attended by approximately 250 officials, financial industry professionals, and scholars from Portuguese-speaking countries, mainland China, Hong Kong, and Macao. (Source: Foresight News)
Macau to Launch mBridge CBDC System on June 2; 11 Local Banks Approved
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Summary
On-chain news from Macau reveals that the Financial Supervisory Commission confirmed on June 1 the official participation in the mBridge project and completed system integration. Eleven local banks have been approved to join, and the system will launch on June 2. PBOC Deputy Governor Lu Lei expects the 'Digital Macau Pataca' system to connect with China’s cross-border platform, providing a transparent, secure, and low-cost channel for trade with Portuguese-speaking nations. The Bank of China’s Macau branch will streamline cross-border remittances and establish multi-channel access. The announcement was made at a CBDC seminar in Macau attended by 250 officials and experts.
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