Linking Central Bank Digital Currencies (CBDC) payments to 10 ASEAN and 6 Middle Eastern countries attributed to China, raising questions about authenticity.

Linking Central Bank Digital Currencies (CBDC) payments to 10 ASEAN and 6 Middle Eastern countries attributed to China, raising questions about authenticity.

China's digital currency, the digital RMB (e-CNY), has been linked with multiple countries as part of its internationalization and digital finance push. According to recent reports, China has engaged in extensive regional digital and financial integration with ASEAN nations, with increasing RMB usage in trade and supply chain finance[1][3].

Some major banks in Southeast Asia and the Middle East, including Singapore’s United Overseas Bank and UAE’s First Abu Dhabi Bank, have integrated into China’s Cross-border Interbank Payment System (CIPS), which facilitates yuan clearing and settlement across borders[2]. This includes participation from banks in ten ASEAN countries and six Middle Eastern jurisdictions, reflecting the expansion of China’s digital yuan and payment ecosystem[2].

The integration of these banks into CIPS is an active, functioning arrangement supporting increasing RMB usage in trade and finance, not only experimental or theoretical. Institutions such as UOB (Singapore) have become direct participants in CIPS, providing real-time renminbi clearing and settlement services to clients[3]. This means the digital RMB payment infrastructure is not only tested but already operational in key commercial banks within these regions, enabling faster, lower-risk RMB payment settlements for cross-border transactions.

However, it's important to note that there is no explicit information available regarding the full list of all ten ASEAN countries or six Middle Eastern jurisdictions in exact terms. Singapore, Vietnam, Cambodia, UAE, Saudi Arabia, and others are among the noted participants or markets where yuan digital payment systems are expanding[2][3].

It's also worth mentioning that the original news report about mBridge's expansion to ASEAN and Middle Eastern countries, which was alleged to have been published on 17 March 2025, is most likely false[4]. The Bank for International Settlements (BIS) stepped away from its mBridge involvement in November 2024, stating that the project had graduated[5]. mBridge does not belong to China; other members include Hong Kong, Thailand, UAE, Saudi Arabia, and several observer countries[6].

In conclusion, while the details of China's digital RMB expansion may be subject to further clarification, the integration of major banks in ASEAN and Middle Eastern countries into China's cross-border payment infrastructure is a significant step towards the internationalization of the digital RMB.

[1] Source for increasing RMB usage in ASEAN [2] Source for banks integrating into CIPS [3] Source for UOB's participation in CIPS [4] Source stating the ASEAN and Middle Eastern mBridge report is likely false [5] Source for BIS withdrawal from mBridge [6] Source for mBridge members and observers

1. The news of mBridge expanding to ASEAN and Middle Eastern countries, as reported in March 2025, appears to be false, as the Bank for International Settlements (BIS) had withdrawn from the mBridge project by November 2024.
2. China's digital currency, the digital RMB (e-CNY), is expanding its payment ecosystem, with major banks in Southeast Asia, such as Singapore’s United Overseas Bank, integrating into China’s Cross-border Interbank Payment System (CIPS), facilitating yuan clearing and settlement across borders.
3. Insights suggest that the digital RMB payment infrastructure is not just tested, but already operational in key commercial banks within ASEAN and Middle Eastern regions, enabling faster, lower-risk RMB payment settlements for cross-border transactions.
4. The government of China is engaging in extensive digital and financial integration with ASEAN nations and Middle Eastern jurisdictions, with increasing RMB usage in trade and supply chain finance, but there is no exact list available regarding the full participation of all ten ASEAN countries and six Middle Eastern jurisdictions.

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