Bank of China Hong Kong Joins Digital Yuan International Operations Center Pilot

Bank of China Hong Kong (2388) said it and Bank of China (3988)’s Thailand subsidiary have become among the first institutions under the People’s Bank of China’s digital yuan international operations center, with BOCHK acting as a direct participant bank on the “Shu Bi Da” cross-border settlement integrated services platform. According to Ming Pao, the bank has connected to the platform and successfully opened a settlement wallet to support inter-institution remittances using the digital yuan. BOCHK also said it has become the first offshore digital yuan custodian bank and the first offshore custodian bank for “Shu Bi Da,” providing digital yuan liquidity allocation services for settlement wallets of offshore direct participant institutions.