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China’s Ex-Digital Yuan Chief Took $8M in Crypto Bribes, Investigation Reveals
China-led digital currency platform mBridge has successfully processed a whopping $55.5 billion in cross-border payments – a clear sign that non-dollar settlement systems are taking off. Since kicking off its 2022 pilot, the platform has handled more than 4,000 transactions, a pretty astonishing 2,500 fold increase in just under two years, according to the Atlantic Council. mBridge is currently being put through its paces by central banks in China, Hong Kong, Thailand, the UAE, and Saudi Arabia. Not surprisingly, China’s own e-CNY accounts for all but a tiny fraction – around 5 per cent – of the transaction ... (full story)