Hong Kong Officially Launches Digital Yuan Payments Pilot (1)

Hong Kong launched a pilot program enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.

Residents of the city can now open digital yuan wallets with Bank of China, Bank of Communications, China Construction Bank and Industrial and Commercial Bank of China to pay merchants in mainland China directly, Hong Kong’s de facto central bank said in a statement on Friday.

The wallets can be set up using only a Hong Kong mobile phone number and can be used within the Greater Bay Area as well as ...