Economic data

Chinese banks explore local e-CNY wallets for foreign firms via upgraded platform

South China Morning Post5 November 2026, 02:00 UTCPeople's Republic of China

Beijing is expanding its central bank-backed digital currency network to offshore institutions, including Hong Kong branches, while banks are also exploring local e-CNY wallets for foreign firms to deepen cross-border integration. “We currently have 30 domestic banks as e-CNY operators. Right now we’re working to extend this capability to offshore banks,” Lu Yuan, deputy head of the People’s Bank of China’s digital currency research institute, said on a panel at Hong Kong’s Fintech Week. “We...

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