THE international operation center for digital yuan, established and operated by the Digital Currency Institute of the People’s Bank of China (PBOC), officially began operations in Shanghai on Thursday. The new e?yuan international operation center provides a suite of solutions for cross?border payments and digital financial services. It comprises three core platforms: an e?yuan cross?border digital payment platform, a blockchain services platform, and a digital assets platform. According to the PBOC, the cross?border payment platform will explore practical applications of the legal digital currency to tackle shortcomings in traditional cross?border settlement. The blockchain services platform is designed to provide standardized cross?chain transaction information and on?chain e?yuan payment services across multiple scenarios. The digital assets platform will offer ready?to?use, financial?grade digital asset services to help extend existing financial infrastructure onto blockchain networks. PBOC Governor Pan Gongsheng first announced plans to build an international operation center for the digital yuan at the 2025 Lujiazui Forum in Shanghai in June. The central bank says the center will promote cross?border interconnection with domestic and international financial infrastructure, advance the e?yuan’s international operations and financial business applications, and support digital financial innovation. “At this stage we have established a preliminary e?yuan cross?border financial infrastructure system,” Vice Governor Lu Lei said at a Shanghai event introducing the three platforms. He described the PBOC’s approach as open, inclusive and innovation?driven, aimed at improving the global cross?border payment system. Lu added that placing the center in Shanghai aligns with the city’s ambitions to strengthen its role as an international financial center. Wu Wei, executive vice mayor of Shanghai, said the e?yuan international operation center and its platforms will provide powerful momentum for the city’s transformation into a global financial hub. He said Shanghai will leverage the center’s platforms to broaden e?yuan application scenarios and support its international rollout. (SD-Agencies) | 