(Yicai) June 4 – BoCom Macau Branch joined the first cohort of institutions approved by the Monetary Authority of Macao to participate in the mBridge project on June 1. Just one day later on June 2, the branch executed two landmark transactions in Macau: it facilitated a cross-border remittance in e-MOP (digital Macau Pataca) for Macao Industrial Limited, and executed a RMB 500 million cross-border collection in digital yuan for Far East Horizon Limited. These real-world transaction results mark a breakthrough for mBridge application in Macau.

The Multilateral Central Bank Digital Currency Bridge (mBridge), built on distributed ledger technology and initiated by several central banks, is a cross-border payment infrastructure for CBDCs. The platform is built to support cross-border connectivity of fiat digital currencies, opening up direct point-to-point clearing links for CBDCs across different jurisdictions. This significantly shortens cross-border clearing cycles and effectively reduces associated handling fees.

As a major state-owned commercial bank deeply rooted in Macau, BoCom Macau Branch’s early access to mBridge provides local clients with faster, cheaper cross-border fund settlement services. Leveraging BoCom’s global integrated service network, the branch will continue to expand mBridge’s use in cross-border settlement, trade finance and cross-border capital pooling. It will further tap into China-Portugal business opportunities to help build a secure, efficient and inclusive cross-border digital finance ecosystem. It aims to further drive China-Portugal economic and trade cooperation, and support the high-quality growth of Macau's digital finance industry.