CIPS

More De-Dollarization: China’s Global Payment System Ready And Could Launch By September

China’s long-awaited global payment system to process cross-border yuan transactions is ready and could launch as early as September, Reuters reported on Monday, citing sources with direct knowledge of the matter. The launch of the China International Payment System (CIPS) will pave the way for internationalizing the yuan and should greatly increase global usage of the Chinese currency by cutting … Continue reading →