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China's Digital Yuan Upgraded to Version 2.0 with Value Storage Features; mBridge Expands Partnerships

2026-06-04 10:18:24

According to PANews, People's Bank of China Deputy Governor Lu Lei announced on June 4 that China has upgraded its digital yuan to version 2.0, which now includes value storage capabilities and functions as a digital deposit currency. The upgraded digital yuan features programmable smart payments and enhanced regulatory capabilities. Lu Lei also revealed that the multi-lateral Central Bank Digital Currency Bridge (mBridge), jointly developed by the PBOC, Hong Kong Monetary Authority, Macau Monetary Authority, UAE Central Bank, and Bank of Thailand, continues to expand its member base and use cases. Additionally, the PBOC has launched CBETS, a cross-border settlement service platform supporting 24/7 on-chain and off-chain settlement access for overseas institutions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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