China’s central bank has inaugurated an international operations centre for the digital yuan in Shanghai, adding institutional muscle to its central bank digital currency rollout. According to the South China Morning Post, cited by CoinDesk, the facility will coordinate cross-border pilots, settlement experiments, and outreach as Beijing looks to embed the e-CNY in global trade flows.
PBOC deputy governor Lu Lei described the move as a “historical inevitability” in payments innovation, arguing that a purpose-built CBDC hub can deliver more inclusive and efficient rails than existing correspondent banking networks. The centre’s mandate includes boosting settlement efficiency, supporting new compliance tooling, and establishing standards that make it easier for overseas institutions to plug into China’s digital currency infrastructure.
The announcement lands just days after mainland regulators told Hong Kong brokerages to pause new real-world-asset tokenization products—a reminder that China is still drawing a firm line between state-backed digital money and private token issuance. By tightening control over tokenization while accelerating the digital yuan, policymakers are signaling that cross-border blockchain experiments will happen on Beijing’s terms.
Source: CoinDesk