In 2026, the digital renminbi sees a milestone upgrade, evolving from the cash-style Version 1.0 to deposit-based Version 2.0. Interest may be accrued on balances of real-name wallets at the demand deposit rate. Meanwhile, the International Operation Center of Digital Renminbi under the Digital Currency Institute of the People’s Bank of China has integrated and upgraded its three original platforms — cross-border digital payment platform, blockchain service platform and digital asset platform — into the comprehensive cross-border settlement platform “Shubida” (Cross-border e-CNY Transfer Services, CBETS).

Relying on this platform, overseas participants can adopt 'single-point access' via the Hong Kong access node to conveniently activate multiple services. Staff from the International Operation Center of Digital Renminbi introduced two CBETS cooperation models at the CIFIT. First, it supports cross-border interconnection with payment systems and central bank digital currency systems of various monetary authorities. Local institutions can achieve seamless connectivity without changing their existing channels through local systems. Second, overseas financial institutions may connect directly to access 7×24 intelligent digital payment services bridging on-chain and off-chain scenarios.

In June this year, the International Operation Center of Digital Renminbi signed direct participant service agreements with the first batch of 26 financial institutions, including overseas branches of major Chinese state-owned banks such as ICBC, ABC, BOC, CCB and BOCOM, as well as foreign banks including Standard Chartered China. After launch, its services will cover Hong Kong China, Macao China, Singapore, Laos, Thailand, UAE, Qatar, Brazil and other countries and regions.