Four foreign banks tap into digital yuan market

Digital yuan

Four overseas lenders, including Standard Chartered and HSBC, have become the first batch of foreign banks to offer digital yuan services in mainland China.

The China branches of Standard Chartered, HSBC, Hang Seng Bank and Fubon Bank made separate announcements this week. Hang Seng is a Hong Kong bank owned by HSBC, while Fubon is the Hong Kong-based subsidiary of a Taiwanese firm.

Customers of the participating banks can now transfer money and make payments in digital yuan using the e-CNY

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