The Digital Renminbi International Operation Center has officially commenced operations, supporting on-chain digital renminbi payments and blockchain transaction transfers

ChainCatcher news, the International Operation Center for Digital Renminbi has officially started operations in Shanghai recently, launching three major business platforms. Among them, the cross-border digital payment platform is based on supporting the internationalization and cross-border use of the Renminbi, exploring the use of legal digital currency to address the pain points in traditional cross-border payments; the blockchain service platform is positioned to support standardized blockchain transaction switching and on-chain digital Renminbi payment services; the digital asset platform is aimed at supporting the compliant issuance, registration, custody, and trading of digital assets on-chain.
The latter two platforms are built on the same blockchain foundation, enabling dual-platform linkage, supporting Delivery versus Payment (DvP) settlement with a unified ledger, and exploring feasible paths to enhance the quality and efficiency of financial services and reduce settlement risks within the current regulatory framework.

It is reported that the International Operation Center for Digital Renminbi is established and managed by the Digital Currency Research Institute of the People's Bank of China, responsible for building and operating the cross-border and blockchain infrastructure for digital Renminbi, promoting cross-border interconnectivity with domestic and foreign financial infrastructures, and advancing the international operation and financial market business development of digital Renminbi.

Lu Lei, a member of the Party Committee and Vice Governor of the People's Bank of China, stated that the upgrade and evolution of the currency and payment system in the digital age is an historical inevitability. The People's Bank of China is committed to providing open, inclusive, and innovative solutions to improve the global cross-border payment system, exploring digital asset innovations that enhance regulatory efficiency and transparency, and increasing the transparency of settlements and the intelligence of value transfer.