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Deep Tide TechFlow News, June 4th, according to Beijing Business Daily, the Monetary Authority of Macau announced that Macau has completed system integration with the multilateral central bank digital currency bridge mBridge project, and officially launched local bank "on-ramp" transactions on June 2nd to build an efficient, secure, and low-cost cross-border payment settlement channel.
mBridge is led by the People's Bank of China, the Hong Kong Monetary Authority, the Central Bank of Thailand, and the Central Bank of the United Arab Emirates, with the Innovation Center of the Bank for International Settlements coordinating and promoting. With Macau's integration, the number of official mBridge members has increased to 6. The report states that Macau is also advancing the "Digital Macao Pataca" sandbox testing, and is expected to connect with the Cross-Border Interbank Payment and Settlement Platform CBETS.