Macro· ★★★· neutral·

China showcases digital yuan cross-border infrastructure at ASEAN expo

  • —CBETS has linked QR payments with Laos' LAPNet and is preparing a pilot with Singapore
  • —12 organizations are building the digital yuan ecosystem, including ICBC, Huawei and Ant Digital
  • —Smart contracts for prepayment management and supply chain financing were showcased
  • —Blockchain, AI and distributed fault tolerance are involved
Why it matters: The digital yuan's expansion into cross-border settlements intensifies competition with dollar stablecoins and other countries' CBDCs.
Source: PANews
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