{"id":78385,"date":"2023-05-05T17:58:00","date_gmt":"2023-05-05T14:58:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78385"},"modified":"2025-09-11T04:45:03","modified_gmt":"2025-09-11T01:45:03","slug":"bnp-paribas-china-integrates-digital-yuan-into-product-line","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bnp-paribas-china-integrates-digital-yuan-into-product-line\/","title":{"rendered":"BNP Paribas China integrates digital yuan into product line"},"content":{"rendered":"

Corporate clients of BNP Paribas’ Chinese subsidiary can settle operations with e-CNY<\/span> in real time. The initiative was implemented in partnership with Bank of China, South China Morning Post<\/a> reports.<\/p>\n

The bank linked wallets with CBDC<\/a> to bank accounts.<\/p>\n

Bank of China is one of ten organisations authorised to promote the use of digital yuan.<\/p>\n

Earlier, HSBC Hang Seng Bank, in collaboration with China Construction Bank, adopted a similar solution.<\/p>\n

BNP Paribas plans to study the use of the digital yuan for smart contracts, supply-chain financing and cross-border payments.<\/p>\n

\n

“The rapid spread of e-CNY has forced foreign banks to rethink their strategies and consider the competitive advantages of using CBDC in cross-border payments between enterprises”<\/em>, according to a report by Oliver Wyman.<\/p>\n<\/blockquote>\n

The publication noted that in 2022, monetary regulators of China, Hong Kong, Thailand and the UAE, with the participation of 20 commercial banks in a 40-day pilot, processed transactions totaling more than 150 million digital yuan ($22 million).<\/p>\n

Earlier, former director of research at the People’s Bank of China, Cinhua Se Pin assessed the interest<\/a> in CBDC as low. According to the analyst, authorities need to broaden the asset’s use cases.<\/p>\n

According to Cinhua’s calculations, the cumulative volume of e-CNY transactions over two years amounted to just over 100 billion yuan ($14 billion<\/a>), which is not ideal.<\/p>\n

In January, the digital yuan was first used<\/a> in stock-market settlements.<\/p>\n

In late 2022, the People’s Bank of China included CBDC in the monetary base. At that time, there were 13.62 bn e-CNY<\/a> in circulation (~$2 bn), which was equivalent to 0.13% of the total.<\/p>\n

In April 2023, Visa presented<\/a> a list of solutions for integrating the national digital currency into Brazil’s financial ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"

Corporate clients of BNP Paribas’ Chinese subsidiary can settle operations with e-CNY in real time. The initiative was implemented in partnership with Bank of China, according to the South China Morning Post.<\/p>\n","protected":false},"author":1,"featured_media":78386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2311,1095,1369],"class_list":["post-78385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bnp-paribas","tag-cbdc","tag-yuan"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78385"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78385\/revisions"}],"predecessor-version":[{"id":78387,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78385\/revisions\/78387"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78386"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}