President of the Hong Kong Monetary Authority: Cross-border CBDC projects in the four places are expected to start testing by the end of the year

According to Caixin.com, on July 6, at a forum held by the Hong Kong Institute of Finance, Hong Kong Monetary Authority President Yu Weiwen and Bank for International Settlements (BIS) President Agustin Carstens discussed the central bank’s digital currency ( CBDC) focuses on communication. Yu Weiwen revealed that the cross-border central bank digital currency (CBDC) project being promoted by four central bank institutions, including the Hong Kong Monetary Authority and the People’s Bank of China, is expected to test the real transactions of some banks and exchanges at the end of the year to help solve the problem of “expensive and slow” cross-border payments. “The pain point.

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