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.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇨🇳 ðŸ‡ðŸ‡° |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Song Yuesheng |
| Companies | Hang Seng Bank, HSBC, Standard Chartered, Fubon Bank |
| Currencies | None |
| Securities | None |
