PANEWS, June 26 news, according to Caijing magazine, Mu Changchun, director of the Digital Currency Institute of the People's Bank of China, delivered a speech titled "CBDC Reshaping Cross-Border Payments" at the 2026 Summer Davos Forum. He said new variables have emerged in the international monetary system, stablecoins and various cryptocurrencies are developing rapidly, and the global cross-border payment system is moving into a new stage. Mu Changchun disclosed that since mBridge successfully entered the phase of continuous real-transaction operation in June 2024, as of the end of 2025, the platform's cumulative transaction volume had reached the equivalent of nearly 500 billion yuan. Its ultimate goal is to evolve into a new-type financial market infrastructure (FMI) jointly built by central banks with the participation of financial institutions under a model of multilateral governance, equality and mutual benefit.