39 institutions apply to join digital yuan cross-border settlement platform

  • Digital RMB International Operations Center reported 39 institutions applied to join CBETS as direct participants.
  • 26 institutions signed initially, followed by 39 additional applications by September's end.
  • CBETS supports bilateral links and direct overseas-institution access for trade and personnel transactions.

The Digital RMB International Operations Center said 39 additional domestic and overseas financial institutions had applied by the end of September to join the "Shu Bi Da" cross-border settlement comprehensive service platform (CBETS) as direct participants. The platform supports bilateral connections with overseas monetary authorities' payment systems and central bank digital currency systems, as well as direct access for overseas financial institutions. According to Xinhua, its cross-border digital yuan services cover trade and cross-border personnel movement.

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