China launches CBETS LIFT digital yuan service to streamline cross-border trade finance
China's Digital Yuan Operations Management Center launched CBETS LIFT, a new digital yuan cross-border payment service, at the China-ASEAN Financial Cooperation and Development Forum. The service uses smart contracts and blockchain to integrate trade documents, funds, and information, addressing fragmentation, supply-demand matching costs, and limited offshore yuan products. Real transactions have been verified in Shanghai, Guangxi, and Fujian.
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Digital Yuan Cross-Border Service Upgraded, New Channel for Trade Settlement and Financing
The digital yuan's cross-border service capabilities have been upgraded with the launch of CBETS LIFT (数币达·励付) at the China-ASEAN Financial Cooperation and Development Forum. Developed by the digital yuan operations management center, CBETS LIFT is a professional service brand under the CBETS cross-border settlement platform, focusing on trade settlement and investment financing. It uses smart contracts and unified ledger technology to integrate trade, shipping, freight, and financing chains, achieving integration of information, funds, and documents. The platform addresses three key pain points: fragmented trade documents and funds, scattered supply-demand resources for SMEs, and limited offshore yuan financial products. It supports local currency settlement, provides digital yuan trade financing for overseas buyers, and enables automated compliance and risk management. Real transactions have been verified, including cases with Agricultural Bank of China and Bank of Communications serving companies like Guangxi Huike and Shanghai Shengshi. Platforms in Shanghai, Guangxi, and Fujian have already connected, with plans to expand the ecosystem.
Read sourceDigital RMB Cross-Border Trade Service CBETS LIFT Enters New Phase in China-ASEAN Forum
The Digital RMB Operations Management Center announced the official launch of the CBETS LIFT (Digital RMB Cross-Border Payment Comprehensive Professional Service) at the China-ASEAN Financial Cooperation and Development Forum. This marks an upgrade in the systematic service capability of digital renminbi in cross-border trade settlement, investment, and financing. According to the report, CBETS LIFT aims to solve three major problems in cross-border trade: fragmentation of documents, information, and funds; high costs of matching supply and demand resources; and limited supply of offshore RMB and supporting financial products. The service uses CBETS as the financial infrastructure, connects trade digitalization platforms, and supports blockchain-based sharing of customs, tax, and foreign exchange data. It enables real-time fund transfers and supports local currency settlement to reduce exchange costs and risks. The service has completed multiple real transaction verifications covering import and export scenarios, including cases involving Guangxi Huike and Shanghai Shengshui Industrial. Du Juan, a senior researcher at Sushang Bank Research Institute, noted that digital RMB cross-border services have formed a 'multilateral + bilateral' dual-track pattern.
Read sourceCBETS LIFT Digital Yuan Service Launched to Solve Three Cross-Border Trade Challenges
On September 18, the Digital Yuan Operations Management Center announced the launch of CBETS LIFT, a new digital yuan cross-border payment service designed to address three major challenges in cross-border trade. The service uses CBETS as its financial infrastructure base and connects trade digitalization platforms to bridge banks and enterprises. It aims to solve the fragmentation of documents, information, and funds through smart contracts that automate financing and payment logic, reducing compliance costs and transaction friction. For the second challenge of scattered supply-demand resources and high matching costs, CBETS LIFT creates an open ecosystem where central bank infrastructure, financial institutions, and trade platforms collaborate. To address limited offshore yuan and financial product supply, the service supports local currency settlement, reduces exchange rate risks, and creates a closed loop from domestic financing to offshore settlement, investment, and repatriation. The service has completed multiple real transactions covering import and export scenarios, with pilot platforms in Shanghai, Guangxi, and Fujian already connected. The article is sourced from Shanghai Securities News via East Money.
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CBETS LIFT Digital Yuan Service Launched to Solve Three Cross-Border Trade Challenges
On September 18, the Digital Yuan Operations Management Center announced the release of CBETS LIFT (数币达·励付), a new digital yuan-based cross-border payment service designed to address three major challenges in cross-border trade. The service uses CBETS as its financial infrastructure, connects trade digitalization platforms, and supports smart contracts for automated financing and payment logic. It aims to solve the fragmentation of documents, information, and funds; high costs of matching supply and demand for small enterprises; and limited offshore yuan financial products. CBETS LIFT supports local currency settlement, reduces exchange rate risks, and creates a closed loop from domestic financing to offshore settlement and investment. The service has completed multiple real transactions covering import and export scenarios, including a case in Guangxi where Huike used the platform to purchase electronic components. Trade digitalization platforms in Shanghai, Guangxi, and Fujian have already connected to CBETS LIFT, with plans to expand the ecosystem to more regions and institutions.
CBETS LIFT Launches to Solve Three Major Challenges in Cross-Border Trade
The Digital RMB Operations Management Center announced the launch of CBETS LIFT, a new comprehensive professional service for digital RMB cross-border payments. The service aims to solve three major challenges in cross-border trade: fragmentation among documents, information, and funds; dispersion of supply-demand resources and high matching costs; and limited supply of offshore RMB and related financial products. CBETS LIFT uses digital RMB smart contracts to automatically fulfill contract terms, reducing compliance costs and transaction friction. It also introduces innovative privacy mechanisms to support trusted data sharing from customs, taxation, and foreign exchange authorities. The service supports bank-enterprise matching and ecosystem collaboration, adhering to technology neutrality. CBETS LIFT has completed multiple real transaction verifications covering import and export scenarios, serving both large enterprises and exploring pathways for smaller market participants. Trade digitalization service platforms in Shanghai, Guangxi, and Fujian have already connected to the system, with plans to expand the ecosystem network to support more regional trade platforms and financial institutions.