Renminbi surpasses euro in global trade finance for first time, ECB report says (eco.sapo.pt)

• Renminbi overtakes euro in trade finance for the first time (8% vs. 6%)
• Digital yuan dominates mBridge: 95% of volume, $55.49 billion in transactions
• ECB responds with wholesale CBDC, EUREP expansion, and TARGET-DLT link

"The Chinese renminbi has overtaken the euro in international trade finance for the first time, according to the ECB's annual report. The yuan's share reached about 8% in March 2026, up from 5.5% in 2024, while the euro stagnated at 6%. Driving factors include China's growing exports, the digital yuan (e-CNY), the CIPS payment system, and the Middle East conflict boosting yuan use for oil transactions. The ECB announced countermeasures including a wholesale CBDC in September 2026, expansion of the EUREP facility, and linking TARGET to DLT platforms."