Macau Launches mBridge Participation on June 2 With 11 Local Banks

According to Xinhua News, Macau's Financial Management Bureau announced on May 31 that Macau has been approved as an official member of the multi-central-bank digital currency bridge (mBridge) project and has completed system integration. Eleven local banks have been authorized as participating institutions, with the system set to go live on June 2. The People's Bank of China Deputy Governor Lu Lei said the central bank looks forward to connecting the "digital Macau pataca" system with its cross-border settlement service platform to provide a more transparent, secure, and cost-effective payment channel for trade between China and Portuguese-speaking countries.
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