Macro Finance
Chinese Banks Expand Direct Settlement to Aid Yuan’s Global Role
Bloomberg Markets·August 6, 2026·1 min read
China is accelerating yuan internationalization as domestic banks add new foreign currencies for direct settlement, bypassing the dollar in cross-border trade. The move aims to reduce reliance on the US currency and boost the yuan's global role in trade settlements.
Read at Bloomberg MarketsDaily crypto arcade
Read the news, then play it.
Chainshorts turns crypto headlines into a daily game. Catch up in 60 words, then jump into daily lucky draws for a shot at the pot.