The People's Bank of China has established an international operation center for digital yuan in Shanghai. This center will oversee cross-border payments, blockchain services, and digital asset platforms as part of the ongoing development of the digital yuan.
Official media Xinhua reported this news on Thursday, citing a statement from the People's Bank of China.
According to Xinhua, the center aims to promote the role of digital yuan in global finance. With its launch, officials introduced cross-border payment platforms, blockchain service platforms, and digital asset platforms.
The center is one of eight measures outlined by the Governor of the People's Bank of China, Pan Gongsheng, during an event in June. According to Pan Gongsheng, the center aims to advance the internationalization of the yuan.
At that time, he placed this push within a "multipolar" currency vision, where multiple currencies support the global economy.
Tian Xuan, director of the National Institute of Financial Research at Tsinghua University, called the launch an "important step" that could strengthen China's influence in the international financial system and provide a "Chinese solution" for improving cross-border payment infrastructure.
China is also promoting stablecoins to increase the international influence of the yuan and reduce reliance on the US dollar.
Although mainland China banned cryptocurrency trading and mining in 2021, it has recently begun to reverse its direction.
In August 2025, Reuters reported that China is considering authorizing yuan-backed stablecoins to promote the use of its currency globally.
This news follows a strategic meeting held by the State-owned Assets Supervision and Administration Commission (SASAC) in Shanghai in July, where stablecoins and digital currencies were discussed, as well as an article published by the official media Securities Times on June 23, which called for the development of stablecoins to be "done sooner rather than later."
Hong Kong-based fintech company AnchorX launched the first stablecoin pegged to offshore yuan (CNH) last week, targeting the foreign exchange market.
The token aims to facilitate cross-border payments between countries participating in China's Belt and Road Initiative, an infrastructure project that builds roads from China to the Middle East and Europe.
Related: Stablecoin giant Tether seeks $500 billion valuation; what internal and external challenges lie beneath its expansion ambitions?
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
