Bank of China recently completed two cross-border RMB transactions at the scale of tens of billions through mBridge, a multilateral central bank digital currency bridge, setting a market benchmark. 

These transactions have demonstrated BOC's leading edge in mBridge business across multiple currencies, all scenarios, and integrated solutions, as well as stable, efficient, and professional cross-border financial service capabilities.

As the first State-owned bank to participate in the mBridge pilot project and pioneer scalable businesses, BOC officially launched the remittance service in April 2024. By the end of June 2026, the mBridge cross-border transaction volumes had surpassed RMB 600 billion, maintaining its market leadership in scenario applications, transaction scale, and service capabilities, empowering enterprises' global operations through its digital cross-border financial services.

In June, BOC Shenzhen branch completed an RMB 11.3 billion cross-border outward remittance through mBridge, catering to the core needs of enterprises' same-day large-amount full crediting.

In July, BOC Fujian branch successfully completed an over HKD 10 billion cross-border inward remittance through mBridge. It took less than one hour from outbound initiation to inbound full crediting, setting a record for the largest single transaction since mBridge was launched.

The mBridge — jointly launched by the People's Bank of China, the Hong Kong Monetary Authority, the Bank of Thailand, and the Central Bank of the UAE — is a new cross-border financial infrastructure built on blockchain technology. Compared with traditional cross-border remittance, mBridge has achieved an underlying technology breakthrough. It saves multi-tiered clearing by the correspondent bank and establishes a peer-to-peer payment network, reducing the time of fund transition and lowering the cost of global capital allocation for enterprises.

BOC will continue to optimize mBridge cross-border service, expand the scope of supported currencies, application scenarios, and service markets, help enterprises operating globally, and enhance global fund management, thereby promoting the international use of RMB and supporting a higher level of opening-up.