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China Accelerates Digital Yuan’s Global Ambitions with Shanghai Hub
China Accelerates Digital Yuan’s Global Ambitions with Shanghai Hub
24
2
BTCCSquare news:
The People's Bank of China has launched a dedicated international operations center for its digital yuan in Shanghai, marking a strategic escalation in Beijing's challenge to dollar dominance. Deputy Governor Lu Lei framed the MOVE as a historical inevitability in payment system evolution, targeting cross-border efficiency and reduced geopolitical exposure.
This infrastructure push follows nearly a decade of CBDC development, now pivoting decisively toward internationalization. The e-CNY's architecture aims to facilitate central bank digital currency interoperability while circumventing dollar-based systems—a direct counter to both traditional finance and USD-pegged stablecoins.
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