China has successfully processed its inaugural international digital yuan transaction with Malaysia, settling a ₹6.05 lakh bill for a durian shipment while avoiding the SWIFT global payment network. Executed by China Construction Bank, the payment utilized e-CNY—China's official central bank digital currency—and cut the settlement duration down to just 30 minutes. In comparison, standard SWIFT transfers typically incur fees between $25 and $35 per transaction, alongside clearing costs that exceed 6%.

by shortkt.com✓

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