More foreign banks have joined China’s digital yuan central bank digital currency (e-CNY CBDC), bringing the total to four. Hong Kong-based HSBC, Hang Seng Bank, and Taiwanese bank Fubon Bank have integrated e-CNY into their platforms, allowing clients to transfer and withdraw the digital currency. Hang Seng Bank has even enabled personal banking customers to bind debit cards within the official e-CNY app and redeem digital renminbi. HSBC has also added similar features for retail e-CNY use. Fubon Bank allows users to recharge e-CNY via mobile banking and use the CBDC with their bank card. These banks are exploring various applications for the e-CNY CBDC, including cross-border trade, smart contracts, cross-border payments, and supply chain finance. The Chinese digital yuan CBDC was recently used to settle a cross-border oil deal, and the use of the yuan in cross-border settlements has been increasing.

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Information	Details
Geography	Asia
Countries	🇨🇳 🇭🇰
Sentiment	positive
Relevance Score	1
People	Song Yuesheng
Companies	Hang Seng Bank, HSBC, Standard Chartered, Fubon Bank
Currencies	None
Securities	None