Yiwu Pay and ICBC Launch Digital Yuan Cross-Border E-commerce Solution
Yiwu Pay has collaborated with the Zhejiang branch of ICBC to launch a cross-border e-commerce payment solution based on digital yuan, integrating mBridge multilateral central bank digital currency bridge technology to enhance the efficiency of cross-border trade settlements.
What are the key facts?
- 1Partners: Yiwu Pay, ICBC Zhejiang Branch
- 2Core Technology: Integrated mBridge
- 3Release Date: June 16, 2026
What happened?
On June 16, Yiwu Pay and the Zhejiang branch of ICBC jointly announced a digital yuan cross-border e-commerce payment solution. This solution, by integrating mBridge technology, provides cross-border e-commerce sellers with more efficient and lower-cost cross-border settlement services, further promoting the application of digital yuan in international trade scenarios.
What does this mean for cross-border sellers?
Sellers engaged in exports to China should pay attention to this settlement solution to reduce the cost of cross-border remittances and improve the speed of fund arrivals.