China-Led mBridge CBDC Network Tops $55 Billion as Digital Yuan Enters New Phase

China’s CBDC strategy is shifting from trial to real-world impact as mBridge clears over $55 billion across 4,000+ cross-border transactions, surging more than 2,500 times since 2022. Despite the BIS exiting in late 2024, China and partner central banks now fully steer mBridge, while e‑CNY usage and new interest-bearing wallets reshape domestic and global finance.