Bank of Communications releases a cross-border trade service plan based on Digital Currency Dada

The 26th China International Investment and Trade Fair recently opened in Xiamen. Under the guidance of the People's Bank of China, Bank of Communications officially released a cross-border trade service plan based on the "Digital Currency Bridge" (CBETS) blockchain infrastructure, focusing on cross-border trade settlement and compliance needs, enhancing the collaborative efficiency of capital flow, information flow, and document flow through on-chain rights confirmation, smart contracts, and other means.

The plan relies on Digital Currency Bridge to support multi-party participation and data sharing, providing services such as cross-border payment and trade background verification for import and export enterprises, financial institutions, and regulatory departments, aiming to reduce compliance costs, shorten settlement cycles, and reserve expansion space for the digital renminbi and cross-border financial infrastructure integration.