To The Moon

In a recent development, Bank of China (HKG: 3988) has successfully executed two multi-billion dollar cross-border transactions using the multilateral central bank digital currency bridge, known as mBridge. These landmark deals set a significant benchmark for the market. The successful completion of these substantial cross-border transactions highlights the bank's leading market position in mBridge operations, characterized by multi-currency capability, comprehensive scenario coverage, and integrated services, alongside its stable, efficient, and professional cross-border financial services capacity.

For substantial funds, precision and immediacy are key. In June of this year, the Shenzhen branch of Bank of China (SSE: 601988) utilized the mBridge platform to facilitate a cross-border outward remittance of RMB 11.3 billion, accurately meeting a corporate client's critical requirement for same-day, full-value fund receipt.

When it comes to cross-border capital transfers, efficiency is paramount. In July, the Fujian branch of Bank of China (HKG: 3988) successfully processed a cross-border inward remittance exceeding HKD 10 billion via mBridge. The funds were transferred from an overseas initiator to a domestic corporate account in full, with the entire process completed in under one hour. This transaction set a new record for the single largest deal since the mBridge platform's inception.

The mBridge project is a joint initiative by 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 represents a new-generation cross-border financial infrastructure built on blockchain technology. Compared to traditional cross-border remittance models, mBridge achieves a fundamental breakthrough in underlying technology. It eliminates the multi-layer intermediary bank clearing process, establishing a 'point-to-point' payment network. This significantly reduces funds' transit time and effectively lowers the cost for enterprises in managing global capital allocation.

As a state-owned bank that was among the earliest participants in the mBridge pilot project and a pioneer in launching large-scale operations, Bank of China (SSE: 601988) has seen its business volume maintain rapid growth since the official launch of this remittance service in April 2024. By the end of June 2026, the cumulative transaction value processed through mBridge had surpassed RMB 600 billion. The bank continues to lead the market in terms of scenario coverage, transaction volume, and service capabilities, empowering enterprises in their global operations with precise, digitized cross-border financial services.

Bank of China (HKG: 3988) remains committed to further optimizing and iterating its mBridge cross-border payment services. The bank plans to expand the range of supported currencies, cover more transaction scenarios, and extend its service reach. This initiative aims to assist enterprises in deepening their international market presence and optimizing global treasury management, thereby injecting robust financial momentum into the promotion of RMB internationalization and the expansion of high-level opening-up.