Central Bank Releases "2025 RMB Internationalization Report", Researches Promoting the Use of Digital RMB in Cross-Border Payments

BlockBeats News, October 31: The People's Bank of China released the "Report on the Internationalization of the Renminbi by 2025," which elaborated on the current process of RMB internationalization and the next steps. The report pointed out that the current multilateral central bank digital currency bridge has officially welcomed five central banks (monetary authorities) including the People's Bank of China. The People's Bank of China stated that it will build an independent and controllable RMB cross-border payment system, research and promote the use of the digital RMB in cross-border payments, and strengthen the supervision of cross-border RMB business.