Lu Lei: Exploring a New Cross-Border Payment Solution Using Digital Currency, Building a Dual Platform of Blockchain and Digital Assets

BlockBeats News, November 3, Deputy Governor of the People's Bank of China, Liu Le, stated at Hong Kong Fintechweek 2025 that looking to the future, they will explore new cross-border payment solutions using the digital renminbi. The principles of no loss, compliance, and interoperability have become the fundamental principles of the legal digital currency infrastructure construction. The People's Bank of China is actively exploring open, inclusive, and innovative cross-border payment solutions in collaboration with all parties to provide support for the high-quality development of the digital economy.

First, promote the exploration of a new paradigm for cross-border payments through multilateral central bank digital currency bridge cooperation. The People's Bank of China and several other monetary authorities, including the Hong Kong Monetary Authority, have jointly explored and formed a multilateral cooperation model based on a multilateral central bank digital currency bridge as a template. This model is based on equal governance under central bank agreements and blockchain architecture, connecting various economic payment systems and legal digital currency systems to achieve multi-currency instant cross-border payments.

Second, rely on the Digital Renminbi Cross-border Payment Platform to provide solutions for central bank digital currency cross-border payment cooperation. The People's Bank of China provides a bilateral cooperation model based on the Digital Renminbi Cross-border Payment Platform, flexibly supporting cross-border interconnection with various monetary authority systems to enjoy the digital experience of intelligent cross-border consumption, trade, and investment.

Third, build a blockchain and digital asset dual-platform to activate a new engine for the value Internet. The People's Bank of China has launched the Digital Renminbi Blockchain Service Platform and Digital Asset Platform. Through the interconnection of these two platforms, it is possible to explore digital asset innovation conducive to enhancing regulatory efficiency and transparency under controllable homogeneous regulatory risks. This will improve the efficiency and transparency of value circulation, promote the efficient circulation and optimal allocation of economic factors, and empower the value Internet.