BANKING | Another Leading African Bank Seeks to Join China’s Yuan Payment System as Trade Grows
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Ecobank, one of Africa’s largest banking groups, plans to join China’s Cross-Border Interbank Payment System (CIPS) to facilitate Yuan transactions as rising trade with China drives demand for direct settlement options. Group CEO, Jeremy Awori, told Reuters the bank would sign an agreement to join the platform in China on October 17 2026. Ecobank operates in 34 African countries and is also in talks with Bank of China to jointly offer yuan settlement services. CIPS connects more than 5,000 banks across over 100 countries and territories providing infrastructure for international payments denominated in the Chinese currency.
Source: BitKE
