mBridge processes record $3.4bn transfers for Bank of China
Bank of China has processed two cross-border transfers worth more than $3.4 billion combined via the mBridge central bank digital currency platform, demonstrating a viable, faster alternative to traditional Western payment rails for corporate settlement.
Bank of China has executed the largest transactions to date on the mBridge central bank digital currency network, moving more than $3.4 billion across two separate cross-border transfers. The lender’s Shenzhen branch handled an outbound transfer of 11.3 billion yuan, equivalent to $1.7 billion, in June. The following month, its Fujian branch processed a record inbound transfer denominated in Hong Kong dollars from an overseas sender.
Settlement speeds during these operations highlighted the network's operational capabilities compared to conventional correspondent banking. The June outbound payment delivered same-day, full-value funds directly to a corporate client. The July inbound transaction successfully settled into an onshore corporate account in under 60 minutes, demonstrating a drastic reduction in the float time that typically burdens corporate treasurers.
The mBridge project relies on distributed ledger technology to facilitate direct, peer-to-peer settlement via central bank digital currencies. Traditional international payment channels depend on long chains of intermediary banks, a structure that inherently drives up transaction fees and introduces settlement delays. The platform currently connects the central banks of mainland China, Hong Kong, Macau, Saudi Arabia, the United Arab Emirates and Thailand.
For market professionals, the sheer scale of these transfers serves as a critical proof of concept. Processing transactions worth over $1.7 billion each proves the network can handle the heavy liquidity demands of global trade finance and multinational corporate settlements. It shows the infrastructure is moving beyond the pilot phase into practical, large-scale commercial utility.
Strategically, the milestone underscores Beijing’s accelerating effort to construct parallel financial infrastructure. By enabling high-value settlements across multiple currencies and business scenarios, mBridge offers a tangible mechanism to bypass traditional, Western-centric clearing networks. For investors tracking global currency dynamics, the platform represents a viable, operational channel designed specifically to support the broader internationalisation of the Chinese yuan.
