Dalian Commodity Exchange paid storage fees to a delivery warehouse in the form of e-CNY, the first time applying central bank digital currency (CBDC) in futures trading.
Fast facts
- According to the report, Dalian Liangyun Group, which received the e-CNY warehousing fees, said that e-CNY transfer has no inter-bank transfer fees, and it would not be restricted by the running time of the High-Value Payment System of the People’s Bank of China, which stops between 5:30 pm and 8 a.m. the next morning.
- The Dalian Commodity Exchange is one of China’s four futures exchanges, mainly trading options on coke, coal, iron ore, corn and soybean products. Dalian is a city on the Liaoning Peninsula in northeastern China. The city was listed among the second batch of e-CNY pilot cities in October 2020.
