China-led mBridge CBDC platform records $55.5 billion cross-border volume as Trump blocks U.S. CBDC push

The China-led mBridge platform has processed about $55.5 billion in cross-border transactions from over 4,000 central bank payments, with volume increasing 2,500-fold since 2022. The digital yuan now accounts for 95% of activity on the project, while in the U.S. President Donald Trump has halted federal CBDC efforts and instead backed privately issued stablecoins under new national regulation.