Standard Chartered Offers Exchange Services for China’s Digital Yuan!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Nov 27, 2023 22:14

Standard Chartered (STAN) has begun offering exchange services for the digital yuan, China’s central bank digital currency (CBDC). The bank’s China division is collaborating with City Bank Clearing Services to provide customers with access to the digital yuan’s interconnection platform, enabling recharge and redemption. Additionally, Standard Chartered has joined the CBDC’s business pilot, making it one of the first foreign companies to do so. Standard Chartered’s involvement in the CBDC pilot is an indication of growing interest from foreign banks in China’s digital currency.