China signs up 26 financial institutions to digital yuan cross-border payment platform

Reuters

Tue, June 16, 2026 astatine 2:33 AM CDT 1 min read

SHANGHAI, June 16 (Reuters) - China's integer yuan cognition centre signed nonstop subordinate agreements with 26 fiscal institutions ‌in Shanghai connected Tuesday, aiming to grow low-cost, ‌efficient cross-border payments and beforehand planetary adoption of the Chinese currency.

• The ​international cognition centre of the integer yuan was established and managed by the People's Bank of China.

• The statement volition let participants to articulation the Cross-border e-CNY Transfer Services, oregon ‌CBETS, an integrated cross-border ⁠settlement level that supports round-the-clock integer outgo links with overseas cardinal banks and overseas fiscal ⁠institutions.

• "Fintech is fundamentally reshaping the underlying logic of cross-border payments and providing caller momentum and pathways for them," Jean Lu, ​CEO of ​Standard Chartered Bank (China), said ​in a property release.

• "An efficient, ‌convenient, and compliant cross-border outgo acquisition volition further heighten the planetary usage of the yuan," Lu said.

• Standard Chartered Bank (China) said it was 1 of the archetypal overseas banks to motion and articulation CBETS.

• China's cardinal slope is ‌making a wide propulsion to summation ​the usage of integer yuan astatine ​home and abroad, ​several manufacture sources told Reuters, mounting Beijing connected ‌a antithetic - and perchance competing - ​path from the ​United States successful shaping the aboriginal of money.

• China granted support to a twelve further banks to ​handle its integer ‌yuan successful March, sources told Reuters, arsenic Beijing pushes ​to accelerate usage of the integer currency.

(Reporting by ​Shanghai NewsroomEditing by Mark Potter)