At the beginning of 2026, the cross-border application of digital renminbi will accelerate comprehensively.
The People’s Bank of China issued the revised “RMB Cross-border Payment System Business Rules”, which will be officially implemented on February 1, 2026, and the original 2018 version of the rules will be abolished simultaneously.
The new regulations clarify the management requirements for zero-balance accounts, relax restrictions on overseas institutions accessing custodian banks, support mixed settlement models, and further standardize cross-border RMB payment business operations.
Promoted by the new regulations, in early 2026, central bank branches in Shanghai, Yunnan, Chongqing and other places deployed key annual digital renminbi tasks, focusing on the construction of cross-border trade scenarios and promoting the implementation of cross-border applications of digital renminbi.
On January 15, Visa teamed up with Apple to expand cross-border payment support for Apple Pay. Eight banks were the first to access it, and more banks will gradually launch related functions in the future.
The market is highly concerned about the new regulations’ dual improvement in cross-border payment efficiency and security.
The zero-balance account system clarifies the ownership of funds, isolates the assets of operating institutions and participants, and strengthens risk prevention and control capabilities; the access threshold for overseas institutions has been lowered, attracting more international financial institutions to participate, and expanding the coverage of the RMB cross-border payment network.
The hybrid settlement model adapts to cross-border payment needs of different scales. Real-time full settlement of large-amount transactions ensures the efficiency of fund arrival, and regular net settlement of small-amount transactions reduces bank capital occupation costs.
The expansion of digital renminbi cross-border scenarios and the upgrade of Apple Pay’s cross-border payment functions have further enriched cross-border payment channels and optimized user payment experience.
Wang Pengbo, chief analyst of Broadcom Consulting, pointed out that the “Business Rules” formed this time have further improved the participant management mechanism, effectively met the expansion needs of CIPS participants, improved the management level of CIPS participants, and better met the needs of CIPS business development.
Zhang Siyuan, a special researcher at Jiangsu Commercial Bank, believes that the new regulations establish the principle of zero-balance accounts, clear fund attribution, effectively isolate the assets of operating institutions and participants, and strengthen risk prevention and control; the entry barriers for overseas institutions have been significantly reduced, making it easier for international financial institutions to participate, and laying an institutional foundation for the collaborative application of digital renminbi and CIPS.
The research report of Cathay Haitong Securities mentioned that the digital renminbi has accelerated penetration in upstream technical support, midstream system adaptation, downstream terminal implementation and other aspects of the industrial chain. There is broad room for future growth, and it is optimistic about the release of demand in the banking IT and financial technology fields.
Related industries will also usher in new development opportunities.
In the banking IT service industry, with the optimization of cross-border payment system rules and the advancement of cross-border application of digital renminbi, banking institutions need to upgrade and transform existing core systems such as payment settlement and account management to adapt to zero-balance account management, hybrid settlement models and digital renminbi cross-border payment needs.
Relevant service providers will receive a large number of system transformation, technology docking and operation and maintenance orders, which will promote the steady expansion of industry business scale. It will also drive service providers to increase investment in technology research and development and enhance their cross-border payment system solution capabilities.
In the payment terminal hardware industry, the expansion of cross-border payment scenarios has driven increased demand for terminal equipment such as POS machines, ATM machines and digital RMB hard wallets.
Equipment manufacturers need to develop terminal products that adapt to cross-border RMB payment and digital RMB functions, support dual offline payment, cross-border QR code scanning payment and other special functions to meet the diversified payment needs of domestic and foreign merchants and users.
Some manufacturers will also rely on their technological advantages to participate in the formulation of cross-border payment terminal standards to further consolidate their industry position.
In the third-party payment institution industry, new regulations simplify the access process for overseas institutions. Third-party payment institutions can rely on the CIPS system to expand the scope of cross-border RMB payment business and cover more overseas markets and user groups.
At the same time, the upgrade of Apple Pay’s cross-border payment function also brings cooperation opportunities for payment institutions to jointly optimize the cross-border payment experience, expand business boundaries, and increase participation and influence in the cross-border payment market.
In the cross-border e-commerce industry, the improvement of cross-border payment efficiency and cost reduction will reduce the settlement waiting time and handling fee expenses of cross-border e-commerce companies, optimize capital turnover efficiency, and reduce operating costs.
The implementation of digital renminbi cross-border payment applications will further simplify the cross-border transaction settlement process, reduce the impact of exchange rate fluctuations on enterprises, help cross-border e-commerce enterprises expand overseas markets more smoothly, and enhance the competitiveness of international business.
Companies in the industry chain are also actively participating.
Sifang Jinchuang is deeply involved in the construction of multilateral central bank digital currency bridges, leading the development of smart contract protocol layers, and in-depth cooperation with the Monetary Authority of Singapore to achieve sub-second settlement of cross-border transactions.
Provide technical support for banks’ cross-border payment systems, assist banks in completing system transformation, adapt to new account management and settlement mechanism requirements, and facilitate the implementation of cross-border applications of digital renminbi.
As one of the first batch of cross-border payment license holders, Lakala’s cross-border payment network covers more than 100 countries, supports the settlement of mainstream e-commerce platforms such as Amazon, and has deployed digital renminbi cross-border acquiring business.
Rely on the new regulations to optimize cross-border payment service processes, reduce cross-border settlement costs for merchants, and improve cross-border payment business service capabilities.
New World has a payment license, and its digital RMB payment cross-border acceptance system has been implemented in many overseas regions. It has a leading POS terminal market share and has deployed more than 15,000 digital currency POS devices globally.
It supports digital RMB dual offline payment functions, assists overseas merchants to complete payment terminal upgrades, and adapts to the needs of cross-border RMB payment scenarios.
BOE is deeply involved in the docking of mBridge and CIPS, providing IT technical services to financial institutions in 185 countries around the world, assisting banks in completing the transformation of cross-border payment systems, and adapting to the new account management and settlement mechanism requirements.
Relying on technological advantages, we provide cross-border payment system operation, maintenance and upgrade services for financial institutions to ensure the stable operation of the system.
Guangdian Express leads the market share of digital RMB ATMs and smart teller machines, and has outstanding hard wallet technology. “Express Digital Chain” supports the digital wallet architecture of many banks.
Cross-border payment terminals have entered the Southeast Asian market, adapting to the needs of local cross-border payment scenarios, assisting local financial institutions in completing payment terminal upgrades, and promoting the implementation of cross-border applications of digital renminbi.
