China completes first cross-border retail digital yuan payment in Laos
China has completed the first cross‑border retail payment using its digital yuan (e‑CNY) in Laos, marking a concrete step in efforts to expand the central bank digital currency beyond domestic pilots. Officials say the transaction was aimed at enabling quick, consumer-level payments for tourists and local merchants, showing the CBDC can work in everyday cross‑border scenarios rather than just wholesale or interbank settlements. The payment underscores Beijing’s push to internationalize the e‑CNY through bilateral trials and technical integrations in Southeast Asia. For users, the benefit is speed and reduced friction for small transactions; for policymakers, it’s a test of interoperability, compliance and data governance across jurisdictions. The rollout will likely prompt closer scrutiny from regional central banks and privacy advocates as more retail cross‑border trials follow.