--- title: "China signs up 26 financial institutions for digital-yuan cross-border payments" url: https://daily.dev/posts/china-signs-up-26-financial-institutions-for-digital-yuan-cross-border-payments-seq8jsfqq source_url: https://thenextweb.com/news/china-signs-up-26-financial-institutions-for-digital-yuan-cross-border-payments type: article source: "The Next Web" published: 2026-06-16T09:40:46.231Z updated: 2026-06-16T09:41:07.311Z tags: ["fintech"] reading_time: 3 upvotes: 0 comments: 0 language: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # China signs up 26 financial institutions for digital-yuan cross-border payments **[The Next Web](https://daily.dev/sources/tnw)** · 3 min read · 0 upvotes · 0 comments ## Summary China's People's Bank of China has enrolled 26 new financial institutions into its digital-yuan (e-CNY) network, focusing on cross-border payment capabilities. The expansion targets trade partners including Singapore, Thailand, Hong Kong, UAE, and Saudi Arabia, with the strategic goal of reducing reliance on the dollar-based correspondent-banking system. Domestically, e-CNY transactions reached 3.48 billion in number and ~16.7 trillion yuan (~$2.37tn) in value by end of November 2025. New features like interest-bearing digital-yuan wallets are being introduced to encourage holding. Cross-border settlement remains the harder challenge, touching sanctions regimes and capital controls, but the direction of travel is clear. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Brics nations weigh joining up their fast payment rails](https://daily.dev/posts/brics-nations-weigh-joining-up-their-fast-payment-rails-xzhqhjxwz) · TechCentral · 0 upvotes · 0 comments - [ECB names 36 payment firms for the digital euro pilot](https://daily.dev/posts/ecb-names-36-payment-firms-for-the-digital-euro-pilot-tgcumrln9) · The Next Web · 2 upvotes · 0 comments - [Tencent lets PayPal users pay via WeChat QR codes in China](https://daily.dev/posts/tencent-lets-paypal-users-pay-via-wechat-qr-codes-in-china-bftwwuoyq) · The Next Web · 0 upvotes · 0 comments - [Europe preps Digital Euro to enter circulation in 2029](https://daily.dev/posts/europe-preps-digital-euro-to-enter-circulation-in-2029-mqvjg2s6x) · The Register · 0 upvotes · 0 comments - [Bank of England says digital pound still in design phase](https://daily.dev/posts/bank-of-england-says-digital-pound-still-in-design-phase-y8xoqteeq) · The Register · 0 upvotes · 0 comments --- Tags: [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/china-signs-up-26-financial-institutions-for-digital-yuan-cross-border-payments-seq8jsfqq)