Wednesday, June 19, 2024 – HSBC Bank in China recently announced that it would offer e-CNY services to corporate clients, according to report. 1
The corporate clients are allowed to connect their bank accounts with digital yuan accounts for asset management, a statement said.
Nord Anglia Education Group, a Chinese school management company in London, has already integrated with the initiative, enabling e-CNY services among six schools situated in Shanghai, Beijing, Guangzhou, Jiaxing, and Suzhou.
“We believe that the continuous improvement of e-CNY infrastructure and the expansion of application scenarios will provide new opportunities for the digital upgrade of campus management,” deputy director of finance and tax at Nord Anglia Education Group, Lin Cheng, said. 2
Bank of China, Bank of Communications, China Construction Bank, or Industrial and Commercial Bank of China are authorized to provide the clients with the facility to open Yuan digital accounts.
The Hong Kong Monitory Authority has introduced the local clients to the digital wallet facility for cross-border payments in May 2024, expecting the enlargement of the Chinese client base, and this step will phase in a new milestone in the banking sector.
- coinpedia.org: https://coinpedia.org/crypto-live-news/wintermute-transfers-12m-arb-to-binance/[↩]
- coinmarketcap.com: https://coinmarketcap.com/community/articles/6666d7e4da443d7f736c778d/ [↩]
