China and Singapore have initiated a pilot program allowing tourists to use the digital yuan (e-CNY) for payments while traveling in both countries.

The Monetary Authority of Singapore and the People’s Bank of China's Digital Currency Institute are collaborating on this project to facilitate tourist spending with e-CNY.

China has been testing the digital yuan since 2019, with total e-CNY transactions reaching 950 million yuan in June and a cumulative value of 1.8 trillion yuan as of last year.

The cross-border retail use of e-CNY has also been trialed in Hong Kong, with Bank of China Hong Kong enabling mainland customers to shop with the digital currency in the city.