Beijing, October 1 (Daily Kiran) : The digital RMB international operations center in Beijing has announced a significant expansion of its cross-border services. As of the end of September, 39 additional domestic and foreign financial institutions have applied to participate directly in the Cross-Border E-CNY Transfer Service (CBETS), following agreements with 26 financial institutions in the initial phase.
This year, the center has consistently improved the CBETS service and broadened its collaborative efforts. The digital RMB’s cross-border services are now facilitating both trade and the movement of people across borders.
In the realm of cross-border trade, CBETS has introduced a new service called CBETS Lift, which focuses on trade settlement, investment, and financing. This initiative aims to eliminate various barriers in traditional cross-border trade and financing through digital means.
To ease the movement of individuals across borders, the foreign version of the digital RMB app allows users from over 210 countries and regions to register and activate wallets using their mobile numbers. Once funds are loaded into the wallet, foreign nationals can shop online and offline upon arriving in China.
This expansion marks a significant step in the digital RMB’s global outreach and its role in facilitating international commerce.
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