Central Bank Governor Highlights Blockchain's Role in Cross-Border Payments

According to PANews, Central Bank Governor Pan Gongsheng emphasized the rapid adoption of new technologies in cross-border payments at the 2025 Lujiazui Forum. He noted that innovations such as blockchain and distributed ledger technology are significantly advancing the development of central bank digital currencies and stablecoins. These technologies are reshaping the traditional payment systems from the ground up, drastically shortening the cross-border payment process. However, they also pose substantial challenges to financial regulation. Additionally, technologies like smart contracts and decentralized finance are expected to continue driving the evolution and development of cross-border payment systems.