26 Financial Institutions Sign Up for Digital Yuan Cross-Border Payment Platform
MT Newswires Live
Jun 17
Twenty-six financial institutions on Tuesday signed direct participant agreements with China's digital yuan operation center in Shanghai, according to a same-day Xinhua News report.
Through the Cross-border e-CNY Transfer Services (CBETS), participants can directly connect with the payment systems of foreign central banks and overseas financial institutions, slashing the settlement period to just a few hours from several days, according to the state-owned media report.
The first batch of direct participants includes Standard Chartered China and several Chinese-funded banks' branches in Thailand, Singapore, Laos and Qatar.
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