While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.

Digital Yuan, e-CNY pilot, Central Bank Digital Currency, CBDC, Banks, Hong Kong, China, Peoples Bank of China, YuanRead More

You might also be interested in reading “MENA’s Digital Banking Challenge Isn’t Demand; It’s the Restrictive Infrastructure,” Fintech Consultant Jas Shah at FMLS:25.