BEIJING -- China has kicked off a trial for cross-border payments using central bank digital currencies (CBDCs) with Saudi Arabia and other partners, eyeing alternative uses for the digital yuan amid its struggles in the home market.
Currencies
China explores cross-border uses for digital yuan in new trial
Efforts with Saudi Arabia, Thailand and more pave way for cheaper transfers
The digital yuan has struggled to gain momentum in China, where an estimated 80% of payments are already cashless. (Photo by Iori Kawate)
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