Hong Kong Monetary Authority: Expand the cross-border pilot of digital renminbi in Hong Kong

ChainCatcher news, the Hong Kong Monetary Authority announced further progress in cooperation with the People's Bank of China on the cross-border payment pilot of the digital renminbi, expanding the pilot scope of the digital renminbi in Hong Kong, facilitating Hong Kong residents to open and use digital renminbi wallets, and adding value to the digital currency wallets through "Faster Payment System."

With this expansion of the pilot scope, users can now open and use personal digital currency wallets in Hong Kong simply by using a Hong Kong mobile phone number. The digital currency wallet can be used for cross-border payments but cannot be used for transfers between individuals. Hong Kong users can add value to their wallets through the local 17 retail banks via "Faster Payment System." The digital renminbi can be used not only in the Greater Bay Area but also in other pilot areas in the mainland.