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

ChainCatcher news, the Digital Renminbi International Operation Center has officially commenced operations in Shanghai, launching three major business platforms. Among them, the cross-border digital payment platform is focused 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 on-chain issuance, registration, custody, and compliant trading of digital assets.

The latter two platforms are built on the same blockchain foundation, enabling dual-platform interaction, 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 Digital Renminbi International Operation Center is established and managed by the Digital Currency Research Institute of the People's Bank of China, responsible for constructing and operating the digital Renminbi cross-border and blockchain infrastructure, promoting cross-border interconnectivity with domestic and foreign financial infrastructures, and advancing the international operation and financial market business development of the 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 a 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 circulation.