Swift bypass: China completes first Malaysia

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Swift bypass: China completes first Malaysia payment in digital yuan

China has completed its first outbound digital yuan payment to Malaysia, settling a 43,000 yuan (US$6,360) shipment of fresh durian, as Beijing accelerates efforts to build a cross-border clearing network in Southeast Asia outside the Society for Worldwide Interbank Financial Telecommunication (Swift) system.
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Swift bypass: China completes first Malaysia payment in digital yuan

Deal advances Beijing’s push to expand the digital yuan through alternative cross-border clearing channels beyond Swift system.

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Swift bypass: China completes first Malaysia payment in…

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