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Hong Kong Launches Personal e-CNY Wallets For Cross-Border Payments
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Hong Kong became the first region outside mainland China to allow users to open digital wallets and hold China’s CBDC e-CNY, otherwise known as the digital yuan on Friday.
The Hong Kong Monetary Authority (HKMA), the city’s central bank, announced that permanent residents and foreign nationals living in Hong Kong can now open e-CNY wallets using their local mobile phone numbers with four major mainland Chinese state-owned banks.
The accredited banks licensed to facilitate the CBDC wallet opening are the Bank of China, the Bank of Communications, the China Construction Bank, and the Industrial & Commercial Bank of China.
HKMA and People’s Bank of China have expanded the scope of the e-CNY pilot in Hong Kong.
Key benefits for HKers:
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