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Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed – Economics Bitcoin News

Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the Industrial and Commercial Bank of China (ICBC) paves the

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Standard Chartered Claims First Yuan-Based Letter of Credit Issued on a Blockchain

Standard Chartered says it's issued the first blockchain-based international letter of credit (LC) transaction using China's national currency, the yuan. The London-based bank said earlier this week that the transaction, for a deal between Australian mining giant Rio Tinto and Chinese steelmaker Baosteel, was carried out over the blockchain trade

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