China and Laos are piloting cross-border digital payment cooperation, with MYbank completing the first digital RMB QR code payment.

PANews reported on January 5th that, according to 21st Century Business Herald, under the guidance of the People's Bank of China, MYbank completed its first digital RMB transaction at a Lao merchant via QR code payment through access to the cross-border digital payment platform of the Digital RMB International Operation Center. This is the latest development in the bilateral cross-border digital payment cooperation project between the central banks of China and Laos. The successful implementation of this pathway signifies that the digital RMB has achieved "internal use abroad" for the first time, providing Chinese residents with a new payment method for overseas consumption and further demonstrating the deepening cooperation between the central banks of China and Laos on digital currencies.