mBridge Cross-Border Transactions Soar Past $55 Billion
According to the latest data compiled by the Atlantic Council based in Washington, the multi-CBDC platform mBridge has surpassed $55.5 billion in cross-border transaction volume, completing over 4,000 transactions. This represents a nearly 2,500-fold increase compared to its early pilot phase in 2022.
Central banks from mainland China, Hong Kong, Thailand, the UAE, and Saudi Arabia are currently testing the platform. Data shows that China's digital yuan (e-CNY) accounts for 95% of total settlements, making it the core driver behind mBridge's rapid growth.
China Accelerates CBDC Infrastructure Development
The latest figures from the People's Bank of China reveal that the digital yuan has processed over 3.4 billion transactions, with a total value reaching 16.7 trillion yuan (approximately $2.4 trillion), reflecting an increase of over 800% compared to 2023.
This significant growth demonstrates China's substantial progress in building its central bank digital currency infrastructure. As mBridge continues to expand, the efficiency and security of digital currency cross-border payments are being validated, paving the way for the future transformation of the global payment system.
- mBridge transaction volume exceeds $55 billion
- 95% of settlements are conducted in digital yuan
- CBDC transaction volume grows over 800% year-on-year