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Deutsche Bank gains first foreign yuan clearing designation in Europe

tradersunion.com 1 hour ago 4 min read ↗ Original

Illustration only Photo by Ivan Bandura on Unsplash

Deutsche Bank has become the first foreign bank authorized to clear yuan transactions in Europe.

WHY IT MATTERS

This gives Deutsche Bank a role in yuan transaction processing that no other foreign bank in Europe currently holds. It may shift how European institutions access yuan clearing services.

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The three things worth knowing

Deutsche Bank is now a yuan clearing bank in Europe.

It is the first foreign bank to receive this designation.

The designation applies to yuan clearing in the European market.

THE CLUSTER

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tradersunion.com via Hacker News Deutsche Bank becomes first foreign yuan clearing bank in Europe 1 hour Open ↗