Core Insights - Fubon Bank's Suzhou branch, in collaboration with Industrial Bank's Shanghai branch, successfully executed the first cross-border digital RMB currency bridge (mBridge) transaction, marking a significant milestone for Taiwanese banks in the digital currency space [1] Group 1: Digital Currency Bridge - The mBridge project is a cross-border financial initiative launched by the People's Bank of China, Hong Kong Monetary Authority, Bank of Thailand, and Central Bank of the United Arab Emirates, aimed at facilitating the issuance and exchange of central bank digital currencies (CBDCs) on a unified platform [1] - The currency bridge significantly reduces payment processing time from "daily settlement" to "minutes," addressing issues of high costs, low efficiency, and lack of transparency in traditional cross-border payment systems [1] Group 2: Technological Implementation - Fubon Bank utilized distributed ledger technology (DLT) through the mBridge platform to assist Jiangsu Hengtong Optic-Electric Co., Ltd. in efficiently completing cross-border remittances for goods trade [1]
台资银行首笔数字人民币“货币桥”跨境业务落地