The Bank of China’s Shanghai branch has completed the first cross-border settlement using China’s digital yuan, or e-CNY, for precious metals. On December 20, the bank processed a 100 million yuan ($14 million) transaction for gold via the Shanghai Financial Exchange International Board. This transaction marks a new milestone in the use of China’s digital currency, with the Bank of China Shanghai at the forefront of these efforts. The branch has been a key participant in the digital yuan’s pilot tests and has recently used the e-CNY for importing iron ore into China. It has also been collaborating with international ... (full story)