China and Oman have agreed to cooperate on central bank digital currency and cross-border payments, according to Oman’s Ministry of Foreign Affairs. The agreements between the People’s Bank of China and the Central Bank of Oman were signed in Beijing on November 2, during a meeting between President Xi Jinping and Sultan Haitham bin Tarik.
The digital currency memorandum covers knowledge and experience exchange only. Oman mainly wants to learn from China’s digital yuan, the e-CNY, which the central bank issues and manages directly. No pilot area, participating banks, technical infrastructure or start date has been announced, so Omani residents cannot pay in digital yuan yet. It is also unclear whether Oman will join a Chinese payment network, issue its own digital currency or only use the know-how.
A separate currency agreement allows the two central banks to make yuan and Omani rial available for trade and temporary liquidity, so companies can settle directly in both currencies without routing payments through the dollar. Crypto Insiders notes that the two deals differ: the swap line is a financial safety net, while the CBDC memorandum is cooperation only.
The economic ties are substantial. China accounted for nearly a quarter of Oman’s foreign trade in 2025, with joint trade of about 9.6 billion rial, according to the Omani government. In September, Beijing said its central bank had 33 active currency agreements worth 4.6 trillion yuan in total.
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