The multilateral central bank digital Currency Bridge successfully completed its first real transaction pilot test, with Shenzhen enterprises accounting for one-third of the transaction volume

According to BlockBeats, on October 10, Shanghai Securities News reported that the local Financial Supervision Administration of Shenzhen Municipality learned that the Multilateral Central Bank Digital Currency Bridge (m-CBDCBridge) (hereinafter referred to as "Currency Bridge") platform has successfully completed its first real transaction pilot test based on digital currencies from four countries or regions. A total of 20 commercial banks from mainland China, Hong Kong, Thailand and the United Arab Emirates have completed more than 160 multi-scenario payment and settlement services mainly for cross-border trade based on the Currency Bridge platform. Each of the five pilot banks in mainland China organized their corporate clients to participate in the first pilot tests at their branches in Shenzhen. Companies from Shenzhen accounted for a third of all transactions in the pilot test, making it the region with the richest business scenarios and the largest number of transactions. In a typical cross-border transaction scenario involving digital RMB business, participating enterprises in Shenzhen took the lead in making payment, which was fully verified by typical business application scenarios such as import and export trade in the Guangdong-Hong Kong-Macao Greater Bay Area, and provided a real and effective basis for promoting currency Bridge as an international cross-border payment infrastructure.