China’s digital currency program has completed the first cross-border consumer payment using digital renminbi in Laos.
China is seeking to popularize the use of the digital renminbi through quick and easy consumer transactions.
Has the digital yuan debuted internationally?
In late December 2025, through the joint efforts of the People’s Bank of China and the Bank of Laos, the Vientiane branch of the Bank of China was connected to the People’s Bank of China’s cross-border digital payment platform to process QR payments for merchants in Laos.
The system works through QR code scanning technology. Chinese tourists can make payments in Laos without exchanging foreign currency by opening the digital renminbi app and scanning the QR code of participating merchants, allowing them to pay directly in local currency with real-time exchange rates. Merchants do not need to change their existing payment equipment to make this work.
The digital renminbi has been piloted domestically since 2019, but this trial in Laos marks its first international retail rollout.
From January 1, 2026, banks will be allowed to pay interest on customers’ digital RMB deposits under a new regulatory framework. Lu Lei, vice governor of the People’s Bank of China, said the system will transform society. The role of digital renminbi From digital cash to digital deposit money.
The digital renminbi will receive the same protection as traditional bank deposits through the National Deposit Insurance System.
By November 2025, the digital yuan had processed 3.48 billion transactions, with a total value of 16.7 trillion yuan (approximately $2.38 trillion). The system currently supports 230 million personal wallets and 18.84 million corporate wallets.
However, compared to established payment platforms in China such as WeChat Pay and Alipay, adoption has been slow.
What is China’s strategy for digital currency?
China operates a multilateral central bank digital currency bridge known as mBridge. The platform processed 4,047 cross-border transactions worth 387.2 billion yuan ($54.2 billion), with digital renminbi transactions accounting for approximately 95.3% of mBridge’s total activity.
The mBridge system includes China, Hong Kong, Thailand, United Arab Emirates, and Saudi Arabia. The project uses distributed ledger technology to enable real-time payments between countries without traditional banking intermediaries.
In October 2024, the Bank for International Settlements withdrew from the mBridge project over concerns that the platform could help people evade sanctions and undermine the dollar’s global role. Participating countries continued to develop the system without BIS involvement.
In late December 2025, the People’s Bank of China announced a comprehensive action plan covering the period from 2026 to 2030. The plan includes the People’s Bank establishing a digital renminbi management committee to operate dual centers for domestic and cross-border systems. It will also seek to emphasize security, continuity, and collaborative monitoring as priorities.
