INDUSTRIAL BANK(SH:601166) Zheng Quan Ri Bao Zhi Sheng·2025-05-23 13:43Core Viewpoint - The successful implementation of cross-border RMB payment through the mBridge by Industrial Bank's Wenzhou branch marks a significant milestone in the digital currency landscape, enhancing financial digitalization and cross-border trade facilitation in Zhejiang Province [1] Group 1: mBridge Overview - The mBridge project is a collaborative initiative involving the Bank for International Settlements (Hong Kong), the Bank of Thailand, the Central Bank of the UAE, the People's Bank of China Digital Currency Research Institute, and the Hong Kong Monetary Authority, aimed at creating an efficient, low-cost, and scalable cross-border payment solution centered around central bank digital currencies [1] - Industrial Bank has successfully implemented multiple mBridge application scenarios across the country, including trade settlement and cross-border cash pooling, demonstrating the advantages of high processing efficiency and low transaction costs [1] Group 2: Role of Banks - Banks play a crucial role in the mBridge project by building the underlying technology architecture and exploring diverse application scenarios for cross-border payments, thus bridging the gap between policy and market [2] - The involvement of banks in the mBridge project not only opens new revenue streams through cross-border payment and foreign exchange services but also enhances their competitiveness in the cross-border payment landscape [3] Group 3: Future Directions for Banks - Future efforts by banks in the mBridge project could focus on expanding the depth and breadth of application scenarios beyond trade settlement to include supply chain finance, cross-border insurance, and foreign exchange derivatives [4] - Strengthening international cooperation and standardization, as well as optimizing technology and risk management, will be essential for the continued success of the mBridge initiative [5]