Macau has officially joined the mBridge project, a multi-CBDC platform for cross-border payments, enhancing connectivity with Portuguese-speaking countries and paving the way for digital yuan integration.
Macau's Monetary Authority launched the mBridge system on June 2nd, enabling three local banks to complete 23 cross-border transactions totaling nearly 1.3 billion MOP. The system uses central bank digital currency and distributed ledger technology for efficient, secure, and low-cost cross-border payments.
Macau's Monetary Authority hosted a seminar on central bank digital currency development and cross-border innovation with Portuguese-speaking countries. The event aims to build an international exchange platform for CBDC and promote financial cooperation.
