TechFlow news, BNP Paribas announced on Thursday in a statement that it is collaborating with Bank of China (BOC) to promote the digital yuan among its corporate clients.
This partnership enables BNP Paribas' corporate clients in China to connect to the Bank of China system, allowing them to link their digital yuan wallets to bank accounts for managing digital yuan transactions—such as tracking payments and making disbursements. To date, China has authorized 10 banks (all domestic) to conduct digital yuan operations.
In addition, BNP Paribas stated it will explore expanding the use of China's central bank digital currency (CBDC) into areas such as smart contracts, supply chain financing, utility payments, and cross-border transactions.
Add to Favorites
Share to Social Media
