China’s central bank launches strategy for cross-border digital RMB payments

The People’s Bank of China is working with five major central banks to develop a digital RMB payment framework aiming to improve RMB’s global adoption. This strategy is outlined in a report detailing goals for the 2025 financial landscape.

China’s initiatives intend to reshape payment systems and increase digital RMB usage in international settlements, which could alter the demand for stablecoins and influence existing fiat payment structures.