Standard Chartered Bank and Bank of Communications Signed a Memorandum of Understanding on Digital Currency Strategic Cooperation

During the Sibos 2024 Annual Meeting, Standard Chartered Bank and Bank of Communications signed the "Memorandum of Strategic Cooperation on Digital Currency" (hereinafter referred to as the Memorandum) to promote joint innovation and business development in the field of digital currency, including digital RMB, and jointly promote the development and application of digital currency. According to the memorandum, the two parties will set up a joint working group to jointly explore the establishment of a basic system and mechanism for cross-border payment and settlement of digital currency, improve the efficiency and convenience of cross-border payment and settlement, and jointly create more abundant digital currency application scenarios. Through the incremental customer value brought by application scenario innovation, promote the expansion of the application scope of digital currency. (Jinshi)