Hong Kong Expert Discusses BRICS International Payment System Similarities

According to Odaily, Chen Fengxiang, a visiting professor and MBA program associate director at City University of Hong Kong, stated that the proposed international payment system by BRICS countries is similar to mBridge. Hong Kong has years of experience in this area, and if mBridge operates smoothly, incorporating additional currencies would not be difficult. mBridge utilizes blockchain technology, allowing direct settlement between central banks using their own currencies, effectively mitigating sanction risks.