China is expanding the geographical coverage of its yuan-based international payment system, adding banks in Central Asia and other regions. The growing reach is likely to boost its annual business ...

China's Cross-Border Interbank Payment System (CIPS) signed direct participant agreements with six foreign institutions in Shanghai on Wednesday, marking the first time that the system's overseas ...

The People's Bank of China (PBC), the central bank, will support qualified banks from different jurisdictions in participating in the Cross-Border Interbank Payment System (CIPS) for the Chinese yuan, ...

BEIJING, July 30 (Reuters) - Chinese banks may have to rely on the country's homegrown payment system for cross-border transactions if the U.S. imposes sanctions on lenders who serve officials ...

As the world’s financial landscape evolves, the need for efficient, secure, and globally connected payment systems has never been more pressing. China’s Cross-border Interbank Payment System (CIPS) is ...

As the yuan is now the world’s fifth most used currency for payments by value, the Chinese central bank clearing system is playing an important complementary role in the global payment system, ...

BEIJING, Feb 28 (Reuters) - Western nations have announced a harsh set of sanctions to punish Russia for its invasion of Ukraine, which includes blocking some banks from the SWIFT international ...