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The joint venture could serve as a conduit for broadening the use of the PBC's digital currency, officially called Digital Currency Electronic Payment (DCEP). Thus far, the use of DCEP has undergone trials in some cities, making China a forerunner in the launch of a state-backed digital currency.
“We have been part of China’s financial markets for more than 30 years, connecting it to the global financial system by facilitating payments and securities flows across borders, and, as we do everywhere we operate, we make adjustments as necessary to remain compliant with regulatory requirements,” SWIFT said in a statement sent to the Global Times on Thursday.
https://www.globaltimes.cn/page/202102/1215015.shtml?stream=business
