Digital Renminbi International Operation Center Signs Direct Participant Service Agreements with 26 Financial Institutions



On June 16, the Digital Renminbi International Operation Center signed direct participant service agreements with the first batch of 26 financial institutions in Shanghai, marking the official launch of large-scale access and commercial operation of the Cross-Border Electronic Payment and Settlement System (CBETS), a comprehensive platform for digital Renminbi cross-border settlement.

The platform integrates three major business modules: cross-border digital payments, blockchain services, and digital assets, supporting interconnection with various currency authorities' payment systems, as well as direct access for financial institutions, providing 24/7 intelligent digital payment services.

Participating institutions in this signing include: ICBC Asia, Bank of China Hong Kong, CCB Asia, and other Chinese-funded banks' overseas branches, as well as foreign banks like Standard Chartered China, with operations covering Hong Kong, Macau, Singapore, Laos, Thailand, the United Arab Emirates, Qatar, Brazil, and other countries and regions.

It is noteworthy that CBETS offers advantages such as low access costs, high settlement efficiency, and strong system compatibility. It can handle retail scenarios like barcode payments and contactless "touch-and-go" payments, as well as wholesale transactions such as remittances, trade, and investment and financing settlements.

This concentrated access of institutions will fully leverage the capabilities of the CBETS platform to provide the market with secure, efficient, and low-cost cross-border digital payment services, helping to improve the quality and efficiency of cross-border trade and investment activities, and promoting high-level opening-up of the financial industry.

In the future, the Digital Renminbi International Operation Center will continue to expand its participating institution team, improve platform functions, and continuously enhance the internationalization comprehensive service capabilities of the digital Renminbi.

#数字人民币 # Cross-Border Payments #CBETS
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