China’s Digital Yuan Operations and Management Center added DCEPS and a smart-contract framework to the digital yuan system, broadening infrastructure for cross-border settlement and multi-party services.
DCEPS and CBETS serve different functions in cross-border yuan transfers: one supplies system infrastructure, while the other handles settlement. The e-CNY SMART Contract framework’s named uses include migrant-worker wage payments, prepaid-fund management, consumer red envelopes, fiscal subsidies and supply-chain finance.
The combined setup covers currency issuance, retail and wholesale activity, blockchain-based payments and contract functions. The center introduced the components at a Beijing forum Wednesday, Oct. 21. The forum rollout added them to the center’s digital yuan operations.
Xinhua reported that participating areas had recorded 4.3 billion digital yuan transactions worth about 31 trillion yuan by the end of September 2026.
Deposit-money-type 2.0 has been in effect since Jan. 1, 2026, succeeding the cash-type 1.0 model.
