The Bank of Communications' Macao branch on Tuesday completed two mBridge transactions: a cross-border remittance in digital pataca, or e-MOP, for Macao Industrial Ltd, and a 500-million-yuan ($73.8 million) cross-border collection in digital yuan for Far East Horizon Ltd. The transactions mark a breakthrough in the application of mBridge in Macao.

Project mBridge is seen as part of Beijing’s push to establish alternatives to traditional, US-dollar-centric payment networks.

Eleven local banks begin trading on the blockchain-based platform as the Digital Macao Pataca enters sandbox testing

The Bank of Communications' Macao branch on Tuesday completed two mBridge transactions: a cross-border remittance in digital pataca, or e-MOP, for Macao Industrial Ltd, and a…