.dbsbank has launched a platform for helping clients collect customer payments in China's CBDC, e-CNY. By lavender_au.
Clients of Singapore bank DBS can now collect payments from customers in e-CNY, China's central bank digital currency , according to an announcement on Wednesday.
The newly launched merchant collection platform allows businesses automated settlement of e-CNY into their bank deposit accounts. At least one client has already used this platform for a transaction, DBS added., launched by the Monetary Authority of Singapore, a project for testing asset tokenization and decentralized finance for traditional banks. The bank is also participating in experiments to build the infrastructure needed to issue a programmable digital Singapore dollar.
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