Why did the People's Bank of China add 26 institutions to its digital yuan network?

The People's Bank of China added 26 institutions to its Cross-border e-CNY Transfer Services network to expand the use of the digital yuan for international payments and settlements. The new participants include bank branches in Brazil, Qatar, Thailand, Hong Kong, and Macau.

What does the Cross-border e-CNY Transfer Services network do?

The Cross-border e-CNY Transfer Services network enables participating institutions to conduct cross-border transactions using China's digital yuan. The platform is designed to support trade, investment, and international payment activities using the central bank digital currency.

What does the expansion mean for international banks using the digital yuan?

International banks participating in the People's Bank of China's network can offer clients digital yuan-based cross-border payment services. Chinese banking institutions said the platform may help provide lower-cost and more diversified settlement options for trade and investment transactions.

How does the digital yuan's growth compare with its use on SWIFT?

The yuan accounted for 2.85% of global payment volume on the SWIFT network in April, ranking sixth among payment currencies. China's digital yuan initiatives are part of broader efforts to increase international use of the currency through alternative payment infrastructure.

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China adds 26 banks to digital yuan network

Q: How is Mbridge connected to China's digital yuan strategy?

Mbridge is a cross-border settlement platform that supports digital yuan transactions and reported more than US$55 billion in transaction volume by January. Approximately 95% of that volume was settled using the digital yuan, according to the reported data.

Written by Brie CarterPublished Jun 19, 2026, 5:31 AM

China's central bank added 26 domestic and international banking institutions to its cross-border digital yuan payment network.
The expansion is designed to increase institutional use of the digital yuan for international settlements and trade transactions.
The move comes as China continues promoting alternative payment infrastructure alongside growing use of digital yuan settlement platforms.

The People's Bank of China expanded its Cross-border e-CNY Transfer Services network by adding 26 domestic and international banking institutions to support wider use of the digital yuan in cross-border payments.

The newly added participants include Chinese bank branches operating in Brazil, Qatar, Thailand, Hong Kong, and Macau, as well as Standard Chartered China's local branch.

“An efficient, convenient and compliant cross-border payment experience will further enhance the international use of yuan,” said Standard Chartered China Chief Executive Officer Lu Jing.

China's Industrial and Commercial Bank said participating institutions will be able to provide lower-cost and more diversified cross-border digital payment services using the platform while supporting trade and investment activity.

The expansion follows growing activity on cross-border digital yuan platforms, with Mbridge reporting more than US$55 billion in transaction volume by January, of which approximately 95% was settled using the digital yuan, and following the announcement no market price reaction was disclosed.

Chinese authorities have increasingly promoted digital yuan-based payment infrastructure as an alternative settlement channel for institutions conducting business with Chinese counterparties and seeking additional payment options beyond traditional international networks.

The initiative comes as the yuan's share of global payments on the SWIFT network fell to 2.85% in April, placing the currency sixth among global payment currencies despite ongoing efforts to expand its international use.