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China Completes First Digital Yuan Cross-Border Payment to Singapore, 10M CNY on July 24

2026-07-24 17:42:11

ICBC0.27%

According to ICBC Shanghai and ICBC Singapore, China completed its first cross-border payment using digital yuan on July 24, transferring approximately 10 million yuan in import shipping fees via the Digital Currency Express (CBETS) platform. The transaction involved W Company, a subsidiary of a centrally owned trading platform. The digital payment method offers faster settlement and reduced exchange costs compared to traditional international transfer methods.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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