Latest data as of January 12, 2026 shows that the CIPS (Cross-border Interbank Payment System) ecosystem continues to expand. The Hong Kong access point processes over RMB 120 billion daily, DBS Bank was approved as a Singapore RMB clearing bank on the same day, and the impressive transaction performance of institutions such as Lakala and Hailian Jinhui fully demonstrates its strong profitability and technological strength.
Currently, CIPS covers 189 countries and regions worldwide, with over 1,700 domestic and international participants, serving more than 5,000 corporate banking institutions, and has become a core hub for global cross-border payments.
In terms of profitability, CIPS demonstrates a strong momentum, mainly driven by three factors: scale, cost, and application scenarios.
Economies of scale have laid a solid foundation for profitability. Overseas institutions account for 73% of direct participants in CIPS, and 82% of new direct participants in 2025 were overseas institutions. This vast network has generated a massive trading volume. After being approved as a clearing bank, DBS Bank can directly connect with cross-border settlements in Southeast Asian energy and commodities. The region’s RMB settlement volume exceeded RMB 800 billion in 2025, opening up high-yield business scenarios for the bank. Bank of Communications Hong Kong’s cross-border HKD remittances through the CIPS channel increased by 900% year-on-year, with large-scale transactions continuously expanding profit margins. Cost advantages have activated market demand. The “real-time full payment + timed net payment” hybrid settlement model has improved capital turnover efficiency by 40%, significantly reducing the liquidity costs of financial institutions, thereby driving down settlement costs for users. Lakala’s cross-border transaction volume reached 2.891 billion yuan on January 12th. Its Saudi energy settlement service fee rate is only one-fifth of traditional channels. By 2025, its cross-border transaction volume is projected to exceed 800 billion yuan, with the number of cross-border merchants and transaction amount increasing by 76% and 85% year-on-year, respectively. Hailian Jinhui, leveraging its dual payment licenses, will process over 300 billion yuan in RMB settlements for Sino-Iranian oil transactions by 2025, transforming its cost advantage into sustained profitability. Deepening its focus on specific scenarios has further broadened its profit margins. 95% of foreign banks in Belt and Road countries have connected to CIPS, and the application of high-frequency scenarios such as energy and cross-border e-commerce is continuously deepening. As a core direct participant, ICBC has increased the number of its offshore RMB clearing banks to 12, making international business a significant engine for the group’s revenue growth. Cross-border e-commerce settlement costs have decreased by 40% through CIPS, further driving the simultaneous increase in transaction volume and profitability. In terms of technological strength, CIPS also demonstrates formidable capabilities, leading comprehensively in efficiency, security, and compatibility. Clearing efficiency has achieved a leap forward, deeply integrating blockchain and smart contract technologies. Southbound trading via the Hong Kong Stock Connect achieves settlement in 8 seconds, 300 times faster than traditional channels, and supports “5×24 hours + normalized service on overseas working days,” completely breaking down time and geographical limitations. Chinalco Group has achieved cross-border aluminum ingot delivery through the CIPS “blockchain + smart contract” model, reducing the entire process from 7 days to 19 minutes, saving 83% in compliance costs. Changliang Technology’s “multi-currency second-level clearing system” has served over 200 banks, and its dual-mode compatible technology perfectly adapts to CIPS’s mixed settlement needs, currently deploying integration solutions for Middle Eastern institutions. A robust security barrier has been established, clearly defining the CIPS account’s “zero balance, no interest, no overdraft” attributes. Daily balances are forcibly cleared, and funds are accounted for separately from the operating institution’s own funds, eliminating the risk of accumulation at its source. Xin’an Century’s quantum encryption technology, certified by the People’s Bank of China, provides security modules for directly participating banks such as Bank of Communications and Bank of China. In 2024, this mechanism successfully intercepted 37 suspicious transactions involving 120 million yuan. DBS Bank adopts a blockchain + CIPS dual-track model, coupled with a dynamic threshold risk control model, which can flexibly adjust transaction limits and effectively prevent cross-border risks. International adaptability is also continuously upgraded, with business already launched in five major currencies including USD, EUR, and JPY. It adopts a multi-currency account + single-message system design, capable of processing 3,000 multi-currency transactions per second. As a core service provider for the central bank digital currency bridge (mBridge), Sifang Jingchuang leads the design of the underlying architecture for cross-border payments. Its blockchain technology has been implemented in over 10 cross-border digital RMB projects in the Middle East and Southeast Asia, with related revenue accounting for over 40% of total revenue in 2025. In 2026, CIPS will complete its ISO 20022 message standard upgrade, further enhancing its international business compatibility. From DBS Bank’s expansion into Southeast Asia to Lakala’s deep involvement in energy settlement, from 8-second real-time clearing to quantum encryption protection, CIPS is reshaping the global cross-border payment landscape through a dual-engine approach of “technology empowerment + scale expansion.” Participating institutions continue to benefit from their technological advantages and accumulated application scenarios, further enhancing the global competitiveness of this financial infrastructure.
