CHINA’S CROSS-BORDER INTERBANK PAYMENT SYSTEM GOES LIVE WITH STANDARD BANK AS FIRST AFRICAN BANK TO OFFER SERVICE
Standard Bank, the biggest bank in Africa by assets, is the first authorised bank to offer transactions through China’s Cross-Border Interbank Payment System (CIPS). The bank was granted license to offer CIPS transactions in June at the Lujiazui Forum in Shanghai. The system has since gone live and was recently inaugurated at a ceremony held…

