Many international banks test Chinese CBDC

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Many international banks have participated in testing Chinese CBDC (e-CNY), following Standard Chartered Bank's move to join on November 27.

According to local news, HSBC, Hong Kong-based Hang Seng Bank and Taiwanese bank Fubon Bank have integrated e-CNY into the platform, allowing customers to test transactions on their bank accounts. Surname.

Notably, Hang Seng Bank also allows individual customers to link their debit card to the e-CNY application and exchange coins for Chinese Yuan, and can top up the e-CNY wallet through the mobile app. Hang Seng Cave China.

HSBC has also added similar features to use e-CNY for individual customers.

With Fubon Bank, they allow users to deposit e-CNY through mobile banking and spend CBDC with bank cards. In addition, the bank will continue to research the application of e-CNY in cross-border trade, smart contracts and supply chain finance.

Previously, Standard Chartered said it was currently testing e-CNY in areas such as cross-border trade payments, trade finance and supply chain finance.

Last month, e-CNY was used for the first time to settle a cross-border oil trade , where PetroChina International purchased 1 million barrels of oil using CBDC.

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