Author: Martin
Lu Lei, Deputy Governor of the People's Bank of China, stated at the Hong Kong FinTech Week Startup Festival that the digital renminbi will explore new solutions for cross-border payments, including promoting multilateral central bank digital currency bridge cooperation and exploring new paradigms for cross-border payments. This statement marks a key step in the internationalization process of China's digital currency.
Since the beginning of this year, the pace of the digital renminbi in the cross-border payment field has noticeably accelerated. On September 24, 2025, the International Operation Center for Digital Renminbi officially commenced operations in Shanghai, launching three major business platforms: the Digital Renminbi Cross-Border Digital Payment Platform, the Digital Renminbi Blockchain Service Platform, and the Digital Asset Platform.
New Model for Cross-Border Payments
Lu Lei revealed that the People's Bank of China is actively exploring the use of various financial technology innovations to promote cross-border payment connectivity. Currently, the People's Bank has organized the establishment of a unified gateway for cross-border QR codes, serving as a unified interface for conducting cross-border QR code payment cooperation, facilitating collaboration between institutions in both regions.
At the same time, the People's Bank continues to expand the Renminbi Cross-Border Payment System (CIPS) operations in Hong Kong. As of the end of September, there are 11 direct participants and 120 indirect participants in Hong Kong, providing safe and efficient cross-border clearing and settlement services for international trade financing and other activities.
Launch of the "Digital Currency Reach" Platform
As an important component of the International Operation Center for Digital Renminbi, the cross-border digital payment platform "Digital Currency Reach" has officially launched. This platform aims to address the pain points of traditional cross-border payments, such as low efficiency, high costs, and low transparency, achieving "one-point access, global reach."
The platform has completed integration with the Hong Kong Fast Payment System and has undergone a functional upgrade: it has introduced more flexible and efficient access strategies, utilizing technologies such as smart contracts to enhance regulatory transparency and support real-time tracking of transaction statuses.
The Digital Renminbi Cross-Border Digital Payment Platform is based on direct cooperation between central banks and utilizes a cross-border payment network built on central bank digital currencies. It has already connected with multilateral central bank digital currency bridges and other cross-border financial infrastructures, further expanding the application scenarios of digital renminbi in cross-border retail and wholesale businesses.
Three Platforms Working in Coordination
The three platforms launched by the International Operation Center for Digital Renminbi each have their own focus. The cross-border digital payment platform explores the use of legal digital currencies to address the pain points of traditional cross-border payments; the blockchain service platform provides standardized cross-chain transaction information transfer and on-chain digital renminbi payment services for various scenarios and industry-specific blockchains.
The digital asset platform offers standardized, ready-to-use financial-grade digital asset services, supporting existing financial infrastructures to expand their business onto the blockchain. Assets such as bonds, bills, electronic vouchers for accounts receivable, and carbon emission rights can all utilize blockchain technology for on-chain issuance, registration, custody, and trading.
Based on the same blockchain foundation, the various business platforms of the International Operation Center for Digital Renminbi are fully interconnected, achieving "a unified ledger with domain-specific operations," continuously enhancing the quality and efficiency of financial services while reducing settlement risks.
Lu Lei stated that in the future, the digital renminbi cross-border payment platform will provide a Chinese solution for central bank digital currency cross-border payment cooperation and build a dual platform of blockchain and digital assets, activating a new engine for the value internet.
The three principles proposed by the People's Bank of China—"no loss, compliance, and interoperability"—have become the basic guidelines for the construction of cross-border infrastructure for legal digital currencies. A preliminary framework for the digital renminbi cross-border financial infrastructure system has already been established.
As the digital renminbi gradually integrates into the global financial system, it will not only enhance the efficiency of cross-border payments but also inject new momentum into the collaborative optimization of the global digital financial ecosystem.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
