China Bridges Domestic and Offshore Yuan Markets; Digital RMB Infrastructure Expanded
China authorized six domestic banks to conduct offshore yuan transactions directly from mainland accounts, bridging domestic and offshore yuan markets. China separately maintained its grip on digital currency development in the context of these financial market expansions.
China authorized six banks for direct offshore yuan transactions from mainland, adding to the prior Digital RMB platform upgrade.
Story timeline · 4 days
- Jun 26, 20268mBridge CBDC Cumulative Transactions Reach Nearly 500 Billion Yuan
mBridge reaches ~500B yuan cumulative transaction milestone, a concrete volume figure not previously reported.
- Jun 24, 20268European Parliament Advances Digital Euro Framework in Historic Vote
European Parliament committee cleared a key hurdle with a formal vote advancing the digital euro legislative framework.
- Jun 23, 20265· this storyChina Bridges Domestic and Offshore Yuan Markets; Digital RMB Infrastructure Expanded
China authorized six banks for direct offshore yuan transactions from mainland, adding to the prior Digital RMB platform upgrade.
- Jun 22, 20267Digital RMB Platform Upgraded to Include Blockchain Services and Digital Asset Integration
Opinion timeline
Takes over time· 2 takes
- Wed, Jun 24First Take· 7
Digital Euro: a ceiling built into the blueprint
European Parliament Advances Digital Euro Framework in Historic Vote
Full summary & sources →The digital euro's designers deliberately capped how useful it can be. No interest paid on holdings, strict limits on how much anyone can hold — these aren't oversights, they're the price of keeping commercial banks onside.
So Europe is building a public payment rail and then handicapping it at the design stage to avoid threatening the banks it's supposed to compete alongside.
If the cap is too tight, people stick with Visa and stablecoins. If the cap is too loose, banks scream about deposit flight and the whole project stalls politically. The ECB can't win that dilemma — it can only choose which way it wants to lose.
For private stablecoins, a hamstrung state competitor is probably better news than a capable one.
- Fri, Jun 26Throwaway· 6
mBridge: half a trillion yuan and nobody's watching
mBridge CBDC Cumulative Transactions Reach Nearly 500 Billion Yuan
Full summary & sources →500 billion yuan settled through a system the US has no visibility into, no seat at the table for, and no ability to sanction — that's what mBridge actually is.
It's not a payment experiment anymore. It's a working alternative to dollar-denominated rails, built by central banks, running real transactions.
The uncomfortable question isn't whether it works. It clearly does. It's whether the rest of the world notices before Washington does.
Sources · 2
- China bridges domestic and offshore yuan markets while tightening grip on digital currencycryptobriefing.com · T2
- China allows six banks to conduct offshore yuan transactions directly from mainlandcryptobriefing.com · T2