Coinspeaker
Standard Chartered Becomes First International Bank to Participate in Digital RMB Business Pilot
The People’s Bank of China (PBoC) has made significant progress in rolling out the digital Renminbi ( e-CNY) during the past year. With about 26 digital RMB active pilot areas that cover mainland China and cross-border services, the China branch of Standard Chartered Plc (LSE: STAN) has announced that it will access the digital RMB interconnection platform through the City Bank Clearing Services Co., Ltd. As a result, Standard Chartered customers can now access seamless banking services through the use of digital RMB including redemption to cash. Standard Chartered China has become the first international bank to offer e-CNY services amid the mainstream adoption of digital payments through blockchain technology.
According to Zhang Xiaolei, the regional president of Standard Chartered China, the integration of the digital RMB and its banking services will play a crucial role in
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