Posted 11/27/2023, 3:09:00 PM
Standard Chartered Offers Digital Yuan Services in China, Joins e-CNY Pilot Program
- Standard Chartered's China division now offers digital yuan exchange services in partnership with City Bank Clearing Services
- Services include digital yuan recharging, redemption, and access to the interconnection platform
- Standard Chartered is one of the first foreign firms to join the digital yuan's business pilot
- China's digital yuan, or e-CNY, has reached 1.8 trillion yuan ($250B) in transaction volume as of June 2022
- BNP Paribas is also enabling corporate clients to use China's digital yuan by linking wallets to bank accounts