After the Macao Special Administrative Region officially joined the Multilateral Central Bank Digital Currency Bridge project (Project mBridge), the Postal Savings Bank of China (PSBC) seized the opportunities in digital finance, kept pace with cross-border finance innovation, and recently rolled out its first mBridge cross-border settlement services in Macao. This initiative offers efficient, low-cost and real-time cross-border payment services to enterprises in Hong Kong and Macao, thereby supporting the growth of international trade and cross-border business.

Project mBridge was jointly initiated by the Digital Currency Institute of the People’s Bank of China, the Hong Kong Monetary Authority, the Bank of Thailand and the Central Bank of the United Arab Emirates. It enables instant cross-border payments and settlement with funds arriving in seconds through direct peer-to-peer settlement. With full traceability throughout the entire transaction process, it is much safer and more convenient than conventional cross-border remittances. Leveraging the service strengths of mBridge, PSBC has precisely matched the fund settlement needs of enterprises in Hong Kong and Macao, providing market entities with efficient, convenient and low-cost digital cross-border payment services.