The People's Bank of China and the Bank of the Lao PDR officially launched the cross-border digital payment interconnection in Nanning on September 18, 2026. This initiative follows a memorandum of understanding signed in June 2026 regarding financial innovation and digital currency cooperation.
The connection links the CBETS platform, operated by the Digital Currency International Operation Center, with the Lao National Payment Network (LAPNet). This system enables Chinese residents to use digital yuan wallets to make payments at merchants in Laos by scanning local QR codes.
The service supports 24/7 digital cross-border trade settlement and investment services through the CBETS platform. Several local Lao banks have already integrated with this system to facilitate trade between the two nations.
Prior to this launch, China and Laos established a foundation for digital payments. In December 2025, the Bank of China completed the first cross-border digital yuan QR code transaction in Laos, allowing tourists to pay using real-time exchange rates without converting currency.
