The first group of 26 financial institutions have signed direct participant service agreements with the International Digital RMB Operations Center in Shanghai, effective June 16, 2026. Upon launch, the services will extend to regions including Hong Kong, Macau, Singapore, Laos, Thailand, the United Arab Emirates, Qatar, and Brazil.
These 26 institutions are the inaugural direct participants for the "Digital Currency Express" (Cross-border e-CNY Transfer Services, or CBETS) comprehensive cross-border settlement platform. The participants are: ICBC (Asia), ICBC (Macau), ICBC Singapore Branch, ICBC (Thailand), ICBC Vientiane Branch, ICBC Doha Branch, ABC Hong Kong Branch, ABC Dubai Branch, Bank of China (Hong Kong), BOC Macau Branch, BOC Singapore Branch, Bank of China (Thailand), BOC (Hong Kong) Vientiane Branch, CCB (Asia), CCB Singapore Branch, Bank of Communications Hong Kong Branch, Bank of Communications Hong Kong Subsidiary, Bank of Communications Macau Branch, Bank of Communications Brazil Subsidiary, Standard Chartered China, Industrial Bank Hong Kong Branch, CITIC Bank International, SPD Bank Hong Kong Branch, SPD Bank Singapore Branch, CGB Hong Kong Branch, and CGB Macau Branch.
In 2025, following strategic directives from the People's Bank of China, the institutions under the central bank's Digital Currency Research Institute were consolidated into the Digital RMB Domestic Operations Management Center and the International Digital RMB Operations Center. These centers function as operators of the digital RMB financial infrastructure, supporting the development of a dual-circulation pattern encompassing both domestic and international markets. The International Operations Center is specifically tasked with constructing and operating the cross-border infrastructure for the digital RMB, serving the cross-border and offshore system framework.
In 2026, alongside adjustments to the digital RMB's measurement framework and a comprehensive upgrade of the infrastructure architecture, the three primary business platforms—the cross-border digital payment platform, the blockchain service platform, and the digital asset platform—were also upgraded and unified under the brand name "Digital Currency Express" (CBETS) comprehensive cross-border settlement platform, initiating branded operations. Overseas participants can conveniently access and activate multiple services through a single connection point in Hong Kong.
CBETS offers two primary modes of cooperation. It supports cross-border interoperability with other monetary authorities' payment systems or legal digital currency systems, allowing local institutions to maintain their existing channels and achieve broad connectivity through their local systems. Additionally, it supports direct access for financial institutions, providing them with immediate, around-the-clock access to intelligent digital payment services.
Participants on the CBETS platform can leverage its system capabilities to offer clients low-cost, diversified, secure, and efficient cross-border digital payment services, thereby facilitating cross-border trade, investment and financing, and advancing high-level financial openness. Moving forward, the International Digital RMB Operations Center will build upon its functional mandate and Shanghai's geographical advantages to continue expanding its participant base and enhancing capacity building, with the goal of consistently improving its international service standards.