The Bank of China said it has been involved in two very substantial payments using the mBridge DLT platform that uses multiple CBDCs for the settlement of cross border payments. One transaction for RMB 11.3 billion ($1.67bn) involved the Shenzhen Branch in June, and this month the Fujian Branch received a payment of HKD 10 billion ($1.28bn). The Hong Kong dollar payment is notable given the renminbi has accounted for more than 95% of mBridge payment volumes.
mBridge platform volumes are growing quickly. The People’s Bank of China released figures showing RMB 387 billion in transactions ($57 billion) as of late 2025. In late June the head of the Digital Currency Institute, Mu Changchun, said the figure was close to RMB 500 billion. When announcing these large transactions, Bank of China said mBridge volumes exceeded RMB 600 billion ($88.7bn) as of the end of June, with the wording indicating these were the bank’s volumes. BoC is likely involved in at least one leg of a high proportion of transactions, and if one subsidiary sends and another receives, the payment could potentially be counted twice in the bank’s figures.
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