In another significant milestone for China’s digital yuan, a Taiwan-based firm has successfully issued e-CNY bonds. Xiamen Xiangyu Group (XMXYG), a Mainland Chinese financial firm with operations in Taiwan, launched an ultra-short-term financing bond, marking a historic first for the country’s Central Bank Digital Currency (CBDC).
The funds raised through the issuance were collected in the issuer’s digital yuan wallet, with a portion of the funds utilized by XMXYG’s Taiwan arm. The exclusivity of the underwriting process was handled by Industrial Bank, a Chinese state-owned bank based in Fujian Province.
