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China Signs up 26 Financial Institutions for Digital-Yuan Cross-Border Payments

On Tuesday, China's digital yuan operation centre signed direct participant agreements with 26 financial institutions in Shanghai, aiming to expand low-cost, efficient cross-border payments and advance global adoption of the Chinese currency.
The PBOC has spent the past year widening the circle of lenders authorized to run digital yuan operations, reflecting a broader argument about who controls the infrastructure of global finance.
New participants join Cbets, an integrated platform supporting 24-hour digital payment links with foreign central banks; "Fintech is fundamentally reshaping the underlying logic of cross-border payments," said Jean, CEO of Standard Chartered Bank .
Beijing is pushing to settle trade with partners including Singapore, Thailand, Hong Kong, the United Arab Emirates, and Saudi Arabia, aiming to avoid routing transactions through the conventional dollar-based correspondent-banking system.
By November 2025, digital yuan transactions reached 3.48 billion in number and around 16.7 trillion yuan in value, though the currency still settles only a tiny fraction of total cross-border trade.

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

China's digital yuan operation centre signed direct participant agreements with 26 financial institutions in Shanghai on Tuesday, aiming to expand low-cost, efficient cross-border ‌payments and advance global adoption of the Chinese currency.

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