Singapore's DBS has implemented a payments collection and settlement service for Chinese merchants that handles transaction in the country's retail central bank digital currency, E-CNY. DBS is the first foreign bank in China to embed the CBDC into its merchant payments portfolio, processing transactions and providing consolidated merchant reports with itemised e-CNY transactions via its business banking platform DBS Ideal. Ginger Cheng, CEO of DBS Bank (China), says: "We received strong interest from several clients for the solution since its launch, and we are pleased to have completed the first e-CNY ... (full story)