Overview
- Industry reports say ICBC’s Shanghai branch and ICBC Singapore used the upgraded Digital Currency Express (CBETS) to settle about 10 million yuan in import shipping fees with funds reaching the recipient the same day on July 24, 2026.
- CBETS was upgraded in 2026 to merge prior cross-border, blockchain service, and digital-asset platforms into one modular settlement network that supports ISO 20022 messaging and a Hong Kong 'One Point Access' gateway for overseas banks.
- The International Operation Center signed direct participant agreements with an initial group of 26 institutions, including ICBC Asia, Bank of China Hong Kong, and Standard Chartered China, to give banks formal access to the CBETS network.
- ICBC presented the payment as a bank-led pilot use case for trade and logistics payments that can cut intermediaries, shorten processing times, and give shippers clearer visibility into cross-border fund flows.
- Reporting is based on industry outlets and participant announcements and lacks broad independent verification, and the transaction builds on earlier PBOC moves such as allowing interest on verified digital-yuan wallets from January 1, 2026.