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Yiwu Pay and ICBC Launch Digital Yuan Cross-Border E-Commerce Solution Integrating mBridge on June 16

2026-06-20 01:41:53

According to Securities Times, on June 16, Yiwu Pay and Industrial and Commercial Bank of China's Zhejiang branch jointly launched a digital yuan cross-border e-commerce payment solution under guidance from the People's Bank of China Digital Currency Research Institute. The solution integrates China's multi-currency central bank digital currency bridge (mBridge) system with the CBETS cross-border settlement service platform, enabling bank-fintech-infrastructure coordination. The system addresses limitations of traditional wire transfers in small-value frequent remittances and fund visibility for cross-border merchants.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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