China’s Central Bank to Launch Digital Yuan International Center in Shanghai

China's central bank will establish an international operation center for its digital yuan in Shanghai, marking a strategic push to expand the currency's global footprint. People's Bank of China Governor Pan Gongsheng announced the MOVE at the Lujiazui Forum, framing it as part of broader efforts to internationalize the e-CNY.

Pan highlighted the transformative role of blockchain and stablecoins in reshaping cross-border payments, noting their ability to enable real-time settlement and shorten transaction chains. The remarks signal rare official recognition of stablecoins' growing influence on global finance.

The Shanghai hub will serve as a focal point for the digital yuan's overseas expansion, positioning China at the forefront of central bank digital currency development. Eight supporting policy measures were unveiled alongside the center's establishment.