CoinWorld reports:
Since obtaining the qualification as a designated operating institution for digital RMB, Industrial Bank has leveraged its “Bank-to-Bank Platform” to provide high-quality services to partner banks, emphasizing complementary advantages and open-win cooperation. Activities around digital RMB application promotion have accelerated significantly through systematic technological outputs, specialty scenario co-construction, and shared marketing resources. The bank ranks among the top in terms of operational institutions, with a notable increase in the number of collaborative institutions.
As of the end of May, Industrial Bank has signed agreements with 125 second-tier cooperative institutions and onboarded 60 partner banks. This initiative spans various types of banks including commercial banks, urban and rural cooperative banks, private banks, and village banks, further expanding the use cases of digital RMB.
Building on its longstanding presence in the interbank and financial markets, Industrial Bank continues to offer collaborative digital RMB services based on its “Bank-to-Bank Platform” brand. This year, second-tier cooperative banks have expressed urgent demands for digital RMB scenario construction in retail, public, livelihood, and inclusive finance sectors. Emphasizing a cooperative spirit of “building together, sharing together, and winning together,” the platform introduces innovative service models such as head office-branch linkage, establishment of specialized working groups, open scenario sharing, and the provision of second-tier systems to partner banks. Following collaboration with Industrial Bank under the 2.5-tier digital RMB framework, partner banks can enable basic digital RMB functionalities through their own channels, including mobile banking and corporate online banking, facilitating services like personal wallets, corporate wallets, and digital RMB acquiring, while receiving support for scenario co-construction and personalized customization to drive business innovation.
Currently, Industrial Bank has successfully introduced various application scenarios to second-tier cooperative banks, such as “one-code scan” merchant acquiring, automatic conversion, co-branded hardware wallets, utility bill payments, payroll distribution, government subsidy disbursement, consumer loans, B2C red packets, and tri-party tax payments. Moreover, it actively explores distinctive scenarios such as Taiwan-focused services and cross-border trials to enhance partner banks’ digital RMB capabilities.
For instance, in a recent development tailored to Taiwan-focused services, Industrial Bank has opened up digital RMB services to Fubon Huayi Bank, a leading Taiwan-invested bank in terms of domestic branch network and asset size. This move makes Industrial Bank the first nationwide operating institution supporting Taiwan compatriots in upgrading their digital RMB wallets through partner bank channels, facilitating the first transaction of digital RMB unit wallet collection at a Taiwan-invested bank nationwide. Taiwan compatriots and enterprises can now access digital RMB services through Industrial Bank or Fubon Huayi Bank channels, enabling consumers to use digital RMB for payments at Taiwan-invested merchant establishments. “Compared to anonymous digital RMB wallets, real-name digital RMB wallets offer advantages in transfer limits and balance ceilings,” stated a spokesperson from Industrial Bank’s Banking Cooperation Center. The bank’s opening of digital RMB services to overseas partner banks will further broaden payment channels for Taiwan compatriots visiting mainland China, enhancing their payment experiences.
Moving forward, Industrial Bank will accelerate the development of digital RMB functionalities and scenarios, continuously enhance partner bank experiences, vigorously promote joint marketing, and foster a new ecosystem for 2.5-tier cooperation.
