The Shanghai branch of the Bank of China announced the first successful cross-border transactions using the digital yuan. We are talking about transactions with precious metals on the Shanghai Gold Exchange.

An unnamed foreign buyer deposited 100 million yuan (about $14 million) into the Central Bank's accounts, which were sent by the central bank to the Shanghai Gold Exchange in the form of e-CNY. According to a bank representative, the settlement of the supply of precious metal was carried out jointly with the bank's branch in Hong Kong.

Testing the cross-border payment capabilities of the People's Bank of China has become a new stage in testing practical scenarios for using the country's central bank digital currency (CBDC).

In addition to Shanghai, Hong Kong is also participating in an experiment involving the use of e-yuan in cross-border retail. In July, Hong Kong's BOC launched a project to allow mainland Chinese shoppers to make purchases using digital yuan at more than 200 retail outlets in the city.

Previously, the regulator reported the successful completion of cross-border payments in e-CNY for supplies of energy resources. In particular, iron ore and petroleum products.