TechFlow news, on December 12, according to the First Financial Daily, the Monetary Authority of Macao officially released the "White Paper on Digital Pataca of the Macao Special Administrative Region" and publicly demonstrated the prototype system of the digital pataca.
Leong Wai Nong, Secretary for Economy and Finance of the Macao SAR, announced that with support from the People's Bank of China, the Macao SAR has successfully developed a prototype system for the digital pataca (e-MOP), laying the necessary foundation for its future development.
Chan Sau Ian, Chairman of the Administrative Committee of the Monetary Authority of Macao, introduced that the digital pataca, as legal tender in the Macao SAR, holds the same legal status and value as banknotes and coins, is backed by 100% reserves, and possesses full legal tender validity.
