Macau banks joinMacau banks join Project mBridge digital currency platform
Eleven banks in Macau have signed up for Project mBridge as the city joins the cross-border digital currency platform backed by Chinese institutions.
The move comes amid Beijing’s broader effort to build payment networks that work outside the US-dollar-centered system, which gives the project significance beyond Macau’s financial sector.
- Macau was a Portuguese colony until 1999 and still keeps a distinct legal and financial system.
- The city is one of the world’s biggest gambling hubs, which has shaped its international banking links.
- CIPS was launched in 2015 to make yuan settlement easier for overseas trade.
US-China Indo-Pacific Rivalry
China and Taiwan coast guard vessels have repeatedly faced off near the Pratas Islands, with the latest standoff showing how small maritime incidents around Taiwan can quickly become confrontations.[1][5] The episode adds to wider U.S.-China military tension across the Indo-Pacific, where Beijing is expanding patrols and Washington is reinforcing regional deterrence.[2][3] The rivalry now centers on preventing miscalculation around Taiwan, the South China Sea, and nearby sea lanes.[1][3][5] It also shapes defense planning by Taiwan, Japan, the Philippines, and the United States as all sides weigh coercion, sovereignty claims, and the risk of escalation.[2][3]
24 May, 07:39 AM
Taiwan and China coast guards face off near Pratas islands1 January
The United States adopts a sharper great-power competition strategy focused on China
