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Deployments · platform by mBridge participating central banks

mBridge multi-CBDC cross-border payments platformUpdated 7 Nov 2026

A shared platform on which participating central banks issue wholesale CBDC so commercial banks can make cross-border payments and FX transactions peer to peer. Built at the BIS Innovation Hub with Hong Kong, Thailand, China and the UAE, it ran real-value pilots in 2022, reached minimum viable product in 2024 when Saudi Arabia joined, and passed to the central banks when the BIS left in late 2024. By early 2026 it had processed over 4,000 transactions worth about $55.5 billion, about 95% in digital renminbi.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Pilot since 5 Jun 2024[1] — Minimum viable product with real-value transactions; participating commercial banks are not named. · Reviewed 11d ago

Assets
Wholesale central-bank money[1]
Wholesale CBDC issued by participating central banks
Networks
mBridge Ledger Private, permissioned[2]
Use cases
Cross-border payments[1]FX settlement[2]
Jurisdictions
China, Hong Kong, Thailand, United Arab Emirates, Saudi Arabia, Macao

Participants

Metrics

  • ~$55.5bnCumulative cross-border payment value · as of Jan 2026[3]
    Atlantic Council data reported by Reuters.
  • over 4,000 transactionsCumulative transactions · as of Jan 2026[3]
  • 4,047 transactionsCumulative cross-border payments · as of Nov 2025[4]
  • ~CN¥387.2bnCumulative cross-border payment value · as of Nov 2025[4]
    PBOC data; e-CNY about 95.3% of value.
  • ~CN¥500bnCumulative cross-border payment value · as of Dec 2025[5]
    'Nearly' CNY 500bn since June 2024, per the PBOC Digital Currency Institute.
  • 49 banksParticipating commercial banks · as of Jun 2026[5]
    21 of them foreign banks.

Timeline

  1. Happened 24 Jun 2026 · Volume milestone · recorded 15 Oct 2026
    The head of the PBOC's Digital Currency Institute says 49 commercial banks (21 foreign) have joined and cumulative value reached nearly CNY 500 billion by the end of 2025; the stated aim is a central-bank-built financial market infrastructure.[5]
  2. Happened 16 Jan 2026 · Volume milestone · recorded 11 Oct 2026
    Atlantic Council data put cumulative volume at about $55.5 billion over more than 4,000 transactions.[3]
  3. Happened 29 Dec 2025 · Volume milestone · recorded 15 Oct 2026
    PBOC data put mBridge at 4,047 cross-border payments worth about CNY 387.2 billion by the end of November 2025, about 95.3% of it in e-CNY.[4]
  4. Happened Oct 2024 (month only) · Status change · recorded 11 Oct 2026
    The BIS hands the project over to the participating central banks.[1]
  5. Happened 5 Jun 2024 · Production milestone · recorded 11 Oct 2026
    Platform reaches minimum viable product; the Saudi Central Bank joins as a full participant.[2]
  6. Happened 2022 (year only) · First transaction · recorded 11 Oct 2026
    Pilot with real-value transactions by commercial banks.[1]

Sources

  1. [1]Project mBridge — Bank for International Settlements, Oct 2024. Accessed 11 Oct 2026.A
  2. [2]Project mBridge reaches minimum viable product stage and invites private sector participation — The Asian Banker (BIS release), 5 Jun 2024. Accessed 11 Oct 2026.B
  3. [3]China-led cross-border CBDC platform mBridge surges past $55 billion in transaction volume — The Block, 17 Jan 2026. Accessed 11 Oct 2026.C
  4. [4]Digital renminbi undergoes a major adjustment — Xinhua News Agency, 29 Dec 2025. Accessed 15 Oct 2026. In Chinese; our summary is translated. State news agency reporting PBOC data..B
  5. [5]Mu Changchun: central bank digital currencies reshape cross-border payments — Yicai, 25 Jun 2026. Accessed 15 Oct 2026. In Chinese; our summary is translated. Reports remarks by the head of the PBOC Digital Currency Institute at the Summer Davos forum on 24 June 2026..C
  6. [6]HSBC welcomes the completion of Project mBridge pilot — HSBC, 31 Oct 2022. Accessed 28 Oct 2026.B
  7. [7]BOCHK integrates mBridge to automate cross-border remittances — Bank of China (Hong Kong) (via The Asian Banker), 29 Oct 2024. Accessed 28 Oct 2026. Re-disseminated bank announcement quoting BOCHK's deputy chief executive..B
  8. [8]CIB Enters a New Phase of Empowering Cross-Border Business with the Multiple-Central Bank Digital Currency Bridge (mBridge) — Industrial Bank, Jul 2024. Accessed 28 Oct 2026. Page shows no date; the URL path dates it to July 2024..B
  9. [9]澳门举办中葡央行数字货币研讨会 探索跨境金融合作新路径 — Xinhua News Agency, 1 Jun 2026. Accessed 28 Oct 2026. In Chinese; our summary is translated. AMCM says Macao became a formal member and completed system connection; 11 local banks admitted, transactions from 2 June 2026..B
  10. [10]交行澳门分行成为澳门首批mBridge参与机构 — Xinhua Finance, 4 Jun 2026. Accessed 28 Oct 2026. In Chinese; our summary is translated.B
  11. [11]mBridge - Wikipedia — Wikipedia. Accessed 7 Nov 2026.C
  12. [12]China-dominated central bank digital currency platform touts largest transactions to date | South China Morning Post — South China Morning Post, 22 Jul 2026. Accessed 7 Nov 2026.C
  13. [13]mBridge Building a multi CBDC platform for international payments — Hong Kong Monetary Authority. Accessed 7 Nov 2026.A
  14. [14]PDF Inthanon-LionRock to mBridge, BIS Innovation Hub Hong Kong Centre ... — Bank for International Settlements. Accessed 7 Nov 2026.A
  15. [15]PDF Connecting economies through CBDC — Bank for International Settlements, Oct 2022. Accessed 7 Nov 2026.A

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