China’s DCEPS System Provides Base for Cross-Border Yuan Settlement
Photo: TokenPost
China’s central-bank digital yuan system, known as DCEPS, provides the technical base for CBETS, a platform for cross-border digital yuan settlement, while its companion contract framework has five use areas. The DCEPS system and e-CNY SMART Contract framework combine issuance management with retail and wholesale services, blockchain payments and smart-contract services. 数字人民币运营管理中心 operates DCEPS, while 国际运营中心 operates CBETS. The e-CNY SMART Contract framework is designed for services involving multiple participants. Its applications include prepaid-fund management, supply-chain finance, fiscal subsidies, consumer red envelopes and wage payments for migrant workers.
Source: TokenPost
