China cuts durian settlement to 30 minutes with first outbound e-CNY payment to Malaysia
Deal advances Beijing’s push to expand the digital yuan through alternative cross-border clearing channels beyond Swift system
The transaction, executed by China Construction Bank’s (CCB) Xiamen branch in coordination with its Labuan branch in Malaysia, enabled a local importer to pay directly in e-CNY, China’s central bank digital currency.
The deal completed a bilateral digital-currency loop following an inbound trial in January.
Traditional cross-border settlement has long been a key industry pain point for perishable tropical imports like durian, which are highly sensitive to processing speed and transaction costs.
By contrast, the e-CNY bilateral mechanism slashed clearing times to 30 minutes via direct bank-to-bank ledger transfers, bypassing intermediary clearing banks and allowing overseas recipients to convert e-CNY directly into Malaysian ringgit without extra fees.