According to Odaily Odaily, the People's Bank of China recently released the "Business Rules for the Cross-border Payment System of RMB" (Yinfa [2025] No. 248), which will take effect on February 1, 2026, replacing the 2018 version of the rules. The notice explicitly lists the "Digital Currency Research Institute" as one of the recipients, alongside institutions such as the China Development Bank, various commercial banks, and the China National Clearing Center.
The new regulations clarify the operational architecture and business processing procedures of the Cross-border Interbank Payment System (CIPS), stipulating that CIPS should support hybrid settlement models, including real-time gross settlement and timed net settlement, and be able to support "RMB payments, RMB-foreign currency simultaneous settlement (PvP), delivery versus payment (DvP) settlement, central clearing by the central counterparty, and other cross-border RMB transaction settlement businesses."
