Hong Kong Monetary Authority: Expanding the cross-border pilot of digital RMB in Hong Kong (from Coinsradar.net)

The Hong Kong Monetary Authority announced today that its cooperation with the People's Bank of China on the cross-border payment pilot of digital RMB has achieved further results, expanding the pilot scope of digital RMB in Hong Kong, facilitating Hong Kong residents to open and use digital RMB wallets, and add value to digital currency wallets through "FPS".

With the expansion of the pilot scope this time, users can now open and use personal digital currency wallets in Hong Kong with just a Hong Kong mobile phone number.

Digital currency wallets can be used for cross-border payments, but cannot be used for transfers between individuals. Hong Kong users can add value to their wallets through "FPS" through 17 local retail banks.

In addition to being used in the Greater Bay Area, digital RMB can also be used in other pilot areas in the Mainland. It is worth noting that this pilot is only used for retail payments.

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