Official announcements from banks or financial news outlets

HSBC China Becomes First Foreign Bank to Offer Digital Yuan Services to Corporate Clients

Jun 11, 2024, 11:28 AM

HSBC China has become the first foreign bank to offer digital yuan (e-CNY) services to corporate clients. This marks a significant milestone as HSBC Bank's China entity launched these services, making it one of the first international banks to provide central bank digital currency (CBDC) services. The digital yuan, also known as e-CNY, is part of China's efforts to modernize its financial system and promote the use of digital currency. Additionally, HSBC is offering these services to retail customers.