11 Macau Banks Connect to mBridge Cross-Border Digital Currency Settlement Platform
N.R. Finch
Eleven Macao banks went live on mBridge — a multi-central-bank digital-currency settlement platform — this Tuesday, joining mainland China, Hong Kong, Thailand, the UAE and Saudi Arabia. Beijing's alternative to dollar-dominated payments just added another node.
What is mBridge, and why does Macao's entry matter?
mBridge — a platform that lets participating central banks settle cross-border payments directly in their own digital currencies — now counts five central-bank members: mainland China, Hong Kong, Thailand, the UAE and Saudi Arabia.
This means → cross-border transfers no longer have to route through US dollars. Money moves straight from one central-bank digital currency to another, faster and cheaper.
Liu Xingkun, executive director of Macao's monetary authority, confirmed the system integration is complete. All 11 local banks can transact on the platform starting this Tuesday.
How does this connect to de-dollarisation?
mBridge, alongside China's Cross-Border Interbank Payment System (CIPS), is widely seen as one of two pillars in Beijing's push for an alternative to the dollar-based payment network.
In plain terms = most cross-border trade settlement has been locked to the US dollar and SWIFT. mBridge opens a parallel lane that bypasses the dollar entirely.
This reflects a broader acceleration: as US-China tensions rise and fears of "weaponised dollar" sanctions grow, participating nations are building backup infrastructure for their own capital flows.
What role does Macao play in the bigger picture?
Since its return to China in 1999, Macao has maintained deep institutional and cultural ties with the Portuguese-speaking world — Brazil, Portugal, Angola and Mozambique are all potential counterparties.
This means → Macao is a natural hub for trade and financial settlement between China and Lusophone economies, and joining mBridge gives that corridor a digital-infrastructure backbone.
Liu also disclosed that the digital Macao pataca has entered sandbox testing, with planned use in e-government services, public transport and campus payments — the local digital-currency ecosystem is being built in parallel.
Content is for reference only, not financial advice.