DBS Bank China Launches e-CNY Merchant Solution for Businesses

DBS Bank Launches e-CNY Merchant Solution for Businesses in China

DBS Bank China has launched an e-CNY merchant solution, allowing mainland businesses to receive payments in China's digital yuan. The service enables corporate clients to collect payments in e-CNY and conduct automated settlements directly into their CNY bank accounts. The solution aims to streamline payment processes and supports businesses in underserved regions. DBS Bank China completed its first e-CNY transaction with a catering company in Shenzhen. The move showcases the bank's commitment to supporting China's financial market innovation while also aligning with its pro-crypto stance, as demonstrated by its previous initiatives in the cryptocurrency space.