Summary
- Macau announced plans to integrate the e-PATACA infrastructure in the GBA region to provide convenient payment options for tourists.
- According to the new CBDC white paper, the e-PATACA is defined as a digital form of central bank-regulated currency, distinct from banknotes and Bitcoin.
- The government stated it will support digital pataca as a payment tool for small and medium-sized enterprises to boost Macau's economic vitality.
Macau has announced plans to integrate the e-PATACA central bank digital currency infrastructure within the Guangdong-Hong Kong-Macau Greater Bay Area (GBA).
According to a report by Macau Business on the 12th (local time), Lei Wai Nong, the Secretary for Economy and Finance, emphasized, "Electronic payments have become an essential means of transaction in daily life. We will provide convenient payment options for both domestic and international travelers."
The new CBDC white paper defines the e-PATACA as a digital form of legal tender regulated by central banks, distinct from virtual assets like banknotes, coins, and Bitcoin.
CBDCs are divided into two types: wholesale and retail. Wholesale CBDCs are used for interbank transfers and transaction settlements by regulated financial institutions, while retail payments function like physical currency or cash and are primarily used for consumer payments.
The government plans to support the use of digital pataca alongside existing payment tools in sectors specialized for small and medium-sized enterprises.
YM Lee
20min@bloomingbit.ioCrypto Chatterbox_ tlg@Bloomingbit_YMLEE
