Bank of China Shanghai successfully launched its first cross-border digital RMB capital account business in Singapore

ChainCatcher news, according to Xinmin Evening News, under the guidance of the Shanghai headquarters of the People's Bank of China, the Shanghai branch of Bank of China completed a corporate dividend transfer to Singapore using digital renminbi remittance, successfully landing the first cross-border digital renminbi capital account business between China and Singapore.

The Shanghai branch of Bank of China actively supports the digital renminbi pilot work: in cooperation with the Shanghai Gold Exchange, it completed a cross-border settlement of 100 million yuan in digital renminbi for precious metal transactions, marking the first cross-border digital renminbi payment in the financial factor market; using digital renminbi to pay Baowu Group for imported iron ore, achieving a breakthrough in cross-border digital renminbi payments in the bulk commodity sector; during the 7th China International Import Expo, in collaboration with Shanghai Public Transport Card Co., Ltd., it held a product launch event for the "Smart Travel Card" within the expo venue, continuously expanding the application of digital renminbi in multiple scenarios.