Chinese Academy of Engineering "Cross-border Easy Payment" Application Case Released

On February 11, the "China Blockchain Development Strategy Research" project of the Chinese Academy of Engineering released the application case of "Cross-border Easy Payment" in the column "Discovering 100 Innovative Applications of China's Blockchain". It is understood that in response to the “One Belt, One Road” national strategy, to provide efficient, safe and low-cost cross-border payment tools for Chinese-funded enterprise customers going global, CCB has applied new financial technologies such as blockchain, innovated payment methods, and created The "Easy Pay" cross-border payment tool has been developed, which effectively solves the pain points in traditional cross-border payment solutions and enables customers to obtain the ultimate payment experience. It is worth mentioning that the innovation of cross-border payment tools through blockchain is the first time CCB has applied blockchain technology in the field of digital assets, realizing a complete closed loop of digital assets, payment instructions, physical funds, and accounting; End-to-end cross-border payment full-process service optimization, support multi-currency, multi-region and multi-institution access, and effectively meet regulatory compliance requirements such as anti-money laundering, balance of payments declaration, and regulatory submission; Multi-dimensional data query and analysis views such as assets and transactions. Up to now, the "Easy Pay" cross-border payment tool has covered all domestic branches of China Construction Bank, as well as 12 overseas institutions including Singapore and Sydney, with a transaction amount of 183.83 billion yuan.