The mBridge platform, a cross-border central bank digital currency (CBDC) initiative led by China, has surpassed $55 billion in transaction volume, according to reports. The platform includes participation from central banks in Asia. The digital yuan accounts for approximately 95% of the settlement volume on the platform. The development indicates growing activity and adoption of the mBridge platform for cross-border payments.

The mBridge platform, a cross-border central bank digital currency (CBDC) initiative led by China, has surpassed $55 billion in transaction volume, according to reports. The platform includes participation from central banks in Asia. The digital yuan accounts for approximately 95% of the settlement volume on the platform. The development indicates growing activity and adoption of the mBridge platform for cross-border payments.