Tencent participates in the multilateral central bank digital currency bridge project, exploring cross-border pilot applications

ChainCatcher news, according to Securities Times, under the guidance of the Central Bank Digital Currency Research Institute, Tencent, as one of the first operating institutions for digital renminbi, is actively participating in the multilateral central bank digital currency bridge project (Project mBridge). Tencent will leverage the multilateral central bank digital currency bridge to explore pilot application projects in both outbound and inbound directions, enhancing the cross-border payment service experience. The multilateral central bank digital currency bridge refers to a project optimized for cross-border payment experiences, jointly participated by multiple central banks based on distributed ledger technology (DLT), aimed at achieving interoperability and interaction between the central bank digital currencies of different countries.