Macau plans to launch a retail central bank digital currency (CBDC) called e-pataca and connect it to the digital yuan and e-HKD. The government is working with the People's Bank of China's Digital Currency Research Institute to develop the CBDC prototype, set to launch on December 20. The e-pataca will be overseen by the Bank of China and Banco Nacional Ultramarino, with the former handling the initial stage. The integration of the digital yuan and e-HKD will pave the way for international payments and facilitate connections with different legal digital currencies. Macau aims to make cross-border payments easier and strengthen economic ties within the Greater Bay Area. The e-pataca's impact on Macau's gambling industry, a major contributor to its GDP, remains uncertain.
- Content Editor ( coingeek.com )
- 2024-12-24
Macau plans to launch CBDC and link it to digital yuan, e-HKD