Commercial banks continue to implement multilateral central bank digital currency bridge applications

A few days ago, the Wenzhou branch of Industrial Bank successfully handled cross-border RMB payment business for a local enterprise through the multilateral central bank digital currency bridge (mBridge, hereinafter referred to as "Money Bridge"). The transaction is not only the first cross-border transfer transaction of the multilateral central bank digital currency bridge in Wenzhou, but also the largest money bridge business in Zhejiang Province so far. Xue Hongyan, a special researcher at Sushang Bank, told reporters, "The bank plays a core role in the implementation of technology and scene innovation in the implementation of the Money Bridge project. On the one hand, as a direct participant, the bank undertakes the task of building the underlying technical architecture of the currency bridge; on the other hand, by exploring diverse application scenarios, the bank promotes the actual implementation of cross-border transfer in goods trade, service trade and other scenarios, verifies the technical feasibility, and promotes the currency bridge from theory to practice. " (Securities Daily)