China's international operation center for the digital RMB has officially begun operations in Shanghai, the country's financial hub, the People's Bank of China (PBOC) said Thursday.
The initiative is among eight new measures announced by the PBOC governor Pan Gongsheng at the Lujiazui Forum in June for implementation in Shanghai.
The center is designated to promote the internationalization of the digital currency and the development of financial market services while supporting innovation in digital finance, Pan said at the forum.
Along with its launch, the center unveiled three major platforms, which include a cross-border digital payment platform, a blockchain service platform and a digital asset platform.
Tian Xuan, president of the National Institute of Financial Research of Tsinghua University, said the launch of the center represents an important step in the development of digital RMB.
"It contributes to enhancing China's influence in the global financial system and provides an open, inclusive and innovative Chinese solution for improving the global cross-border payment system," Tian said.
Source: Xinhua