Director of the Central Bank’s Digital Currency Research Institute: Stablecoins and Various Cryptocurrencies Are Rapidly Developing; Cumulative Transaction Volume on the Multilateral Central Bank Digital Currency Bridge Has Reached Nearly 5000亿元

Svmuu News People's Bank of China (PBOC) Mu Changchun, Director of the Digital Currency Research Institute, delivered a speech titled “Central Bank Digital Currency Reshapes Cross-Border Payments” at the 2026 Summer Davos Forum. He noted that new variables have emerged in the international monetary system, with the rapid development of stablecoins and various cryptocurrencies propelling the global cross-border payment system into a new phase of development.Mu Changchun revealed that since June 2024, when the “Currency Bridge” successfully entered the live transaction phase and has been operating continuously, by the end of 2025,the platform’s cumulative transaction volume had reached the equivalent of nearly 5000亿元人民币. Its ultimate goal is to evolve into a new type of financial market infrastructure (FMI) jointly built by central banks and involving financial institutions, operating under a model of multilateral governance and mutual benefit. (Caijing)