Bank of China logs two mBridge transactions totalling nearly $3 billion

Bank of China has disclosed two of the largest individual transactions ever recorded on the mBridge multi-CBDC (central bank digital currency) cross-border settlement platform. The Shenzhen Branch completed a renminbi payment of RMB 11.3 billion (approximately $1.67 billion) in June, while the Fujian Branch received a Hong Kong dollar payment of HKD 10 billion (approximately $1.28 billion) in July. The Hong Kong dollar leg is particularly notable given that renminbi has historically accounted for more than 95 percent of mBridge payment volumes.

Platform volumes are accelerating sharply. The People’s Bank of China reported RMB 387 billion in cumulative transactions as of late 2025. By late June, Mu Changchun, head of the Digital Currency Institute, indicated the figure was approaching RMB 500 billion. Bank of China’s own announcement placed mBridge volumes above RMB 600 billion ($88.7 billion) as of end-June, though this figure appears to reflect the bank’s own activity rather than the platform’s total, and double-counting is possible where one BoC subsidiary originates a payment and another receives it.

The HKD transaction suggests corridor diversification is underway, with currencies beyond renminbi beginning to move meaningful volumes across mBridge. For institutions assessing settlement infrastructure, the trajectory from RMB 387 billion to over RMB 600 billion within roughly six months signals that mBridge is operating at a scale that warrants serious evaluation rather than continued monitoring from the sidelines.