Digital Assets: BNP Paribas China’s Corporate Clients To Link Their Digital Yuan Wallet To Bank Account
With this move, BNP Paribas China is seeking to promote China’s e-CNY, or digital yuan.
BNP Paribas China is partnering with Bank of China to launch an e-CNY management system for its corporate clients. The system will enable BNP Paribas China clients to link their digital yuan wallet to their bank account for efficient and convenient digital cash transactions.
To facilitate this, BNP Paribas’ corporate clients will be able to connect to China’s e-CNY through a connection to the Bank of China’s system. (SCMP)
BNP Paribas China is also exploring the usage of China’s central bank digital currency for smart contracts, supply chain finance, and cross-border payments.
The move is aimed at promoting the digital yuan and increasing the range of options for users. The digital yuan is being tested in 26 cities and regions across 17 provinces and has been used for retail, transport, and payment of salaries.
Related Story: Cumulative Transactions In The Digital Yuan (e-CNY) Exceed 100.04B Yuan ($13.9B)
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