Standard Chartered and Bank Of Communications Sign Digital Currency Cooperation Agreement

According to Foresight News, Standard Chartered Bank and Bank of Communications have signed a Digital Currency Strategic Cooperation Memorandum during the Sibos annual conference organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The two banks will form a joint working group to explore the establishment of a foundational system and mechanism for cross-border digital currency payments and settlements. This initiative aims to enhance the efficiency and convenience of cross-border payments and settlements, create more diverse digital currency application scenarios, and drive the expansion of digital currency usage through innovative application scenarios that bring incremental customer value.