Catenaa, Tuesday, December 02, 2025- Standard Bank became the first African lender to connect directly with China’s Cross-Border Interbank Payment System, marking a shift in how African businesses settle trade with Chinese suppliers.

The bank received approval in June and formally launched the service at an event hosted by the South African Reserve Bank with officials from the People’s Bank of China and CIPS present.

Direct access to CIPS allows payments to move in yuan instead of routing through dollar channels.

Standard Bank said the system cuts conversion steps, lowers fees and shortens settlement delays that affect dollar-based transactions.

The bank said the new service opens options for clients seeking improved payment methods in trading with China.

Sector specialists said yuan settlement could help firms plan cash flow and sharpen pricing in competitive markets. They added that future progress depends on regulatory steps in other African countries and close oversight of currency risk.

Standard Bank called the CIPS link a starting point for deeper financial connections between Africa and China.