ForkLog Details Expanding China-UAE Trade Settlements via mBridge and Digital Yuan Rails

A report by ForkLog details how central bank digital currencies and digital rails are transforming cross-border trade settlements between China and the UAE. According to cited Atlantic Council data, the multilateral mBridge platform has processed over 4,000 transactions totaling $55.5 billion, with roughly 95% settled in e-CNY. Furthermore, CNPC and Bank of China established a Macau-UAE settlement corridor, and China's CBETS cross-border system connected participants across the UAE and Qatar.

Published October 13, 2026 Source: ForkLog

English Original
中文 Chinese version
العربية Automatic translation

Issuing authority: People's Bank of China
Jurisdiction: China
Stage: Final rule
Official source: news.google.com

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A report published by ForkLog examines how central bank digital currencies (CBDCs) and digital settlement infrastructure are transforming cross-border trade. Citing Atlantic Council figures previously reported by Reuters, ForkLog stated that the multilateral mBridge platform has processed more than 4,000 interbank transactions valued at $55.5 billion, with approximately 95% of the turnover denominated in digital yuan (e-CNY).

In June, Macau joined mBridge, executing 23 transfers totaling nearly 1.3 billion patacas on its launch day. Entities of the China National Petroleum Corporation (CNPC) collaborated with Bank of China to establish trade settlement channels connecting Macau to Hong Kong and Macau to the UAE, an initiative described by Guangming Daily as direct entry for the yuan into Middle East markets.

China has also expanded dedicated operational rails for digital currency trade settlements. In September 2025, the e-CNY International Operation Center launched in Shanghai, and on June 16, 2026, 26 institutions—including China's top five state commercial banks and Standard Chartered China—connected to the CBETS cross-border payment system. The platform provides 24-hour service covering jurisdictions including the UAE, Qatar, Hong Kong, Macau, Singapore, Laos, Thailand, and Brazil.

While state-backed digital currency rails expand, Chinese authorities continue to restrict commercial private stablecoin initiatives. In October 2025, Ant Group and JD.com suspended stablecoin plans in Hong Kong following directives from the People's Bank of China and the Cyberspace Administration of China. Meanwhile, Chainalysis estimates cited by ForkLog indicated that China's crypto volume reached at least $176.3 billion between July 2025 and June 2026, including 18.1 million direct stablecoin transactions valued at $104.1 billion.