PanGongsheng

🧭 China’s Central Bank: Blockchain Disrupts Cross-Border Payments, Strengthens Digital Yuan Strategy 🇨🇳

PBOC Governor Pan Gongsheng just made it clear: blockchain is transforming global finance — and China plans to lead that charge. 🚀

🔗 Key Highlights:
• Blockchain is reshaping cross-border payments, making them faster, cheaper, and less dependent on legacy systems.
• Smart contracts and DeFi are driving the evolution of global payments, reducing risks tied to centralized, politicized structures.
• China will launch a digital yuan international operations hub in Shanghai to expand global usage and challenge dollar dominance.

💬 “Blockchain has shortened the cross-border payment chain and disrupted financial supervision,” Pan said. He also warned of the geopolitical risks embedded in traditional payment rails, often used as tools for unilateral sanctions.

🏦 Meanwhile, six foreign banks — including Standard Bank and First Abu Dhabi Bank — are integrating with CIPS, China’s alternative to SWIFT, to settle yuan transactions more efficiently.

💱 Pan also backed the vision of a multipolar currency system, reducing reliance on the U.S. dollar and creating balance through parallel global currencies.

📣 With the digital yuan gaining momentum and China pushing blockchain-based infrastructure, the global financial system may be entering a new era — one that’s faster, decentralized, and less dollar-dependent.

#Blockchain #DigitalYuan #China #CBDC #DeFi #CryptoNews #BinanceSquare #CIPS #PanGongsheng