New rules implemented, CIPS reshapes the global cross-border payment landscape.

On January 12, 2026, the new version of the “Business Rules for the Cross-border Payment System of RMB” officially came into effect, a significant move. For the first time, the Digital Currency Research Institute (CIPS) was included in the notification scope, marking a milestone breakthrough in the collaborative application of CIPS and the digital RMB. Cross-border offline payment scenarios were successfully implemented, with six major banks, including ICBC and ABC, initiating pilot programs. These key advancements highlight its strong profitability and technological strength. In terms of profitability, CIPS continues to lead the pack. Its core profitability advantage stems from the triple drive of “cost reduction + scenario expansion + economies of scale,” and the latest business data confirms its strong monetization capabilities. In terms of cost control, after the implementation of the new regulations, the real-time clearing fee for cross-border digital RMB remittances at the six pilot banks has dropped to one-fifth of that of traditional channels. The promotion of the “real-time full amount + timed net amount” hybrid settlement model has further reduced overall settlement costs for users by 66%, with the lowest single transaction fee at only 0.3 yuan, a significant reduction compared to the 38 yuan charged by the SWIFT system. The expansion of application scenarios has directly driven a surge in transaction volume, with high-frequency sectors such as energy and cross-border e-commerce becoming core profit engines. Hailian Jinhui, a core participant with dual payment licenses, processed over 300 billion yuan in RMB settlements for China-Iran oil transactions in 2025. Lakala, deeply rooted in the Saudi energy settlement market, leveraged its low-cost advantage to achieve a cross-border transaction volume exceeding 800 billion yuan in 2025, demonstrating outstanding profitability. The implementation of dual offline payment in the China-Laos Railway cross-border passenger transport scenario has further opened up incremental space for CIPS in the cross-border travel sector, allowing passengers to complete consumption settlements without an internet connection, further expanding profit boundaries. The continued release of economies of scale has caused profits to snowball. With the advancement of the Belt and Road Initiative and the rise in demand in regions such as the Middle East and Africa, CIPS has become the preferred channel for cross-border trade settlement. Coupled with its “5×24-hour + regular overseas working day service” operating model, capital turnover efficiency has increased by 40%, and the liquidity costs of financial institutions have been significantly reduced, forming a virtuous cycle of “fee reduction – increased volume – profitability.” In terms of technological strength, CIPS is backed by robust capabilities. Its technological leadership permeates the entire chain of system architecture, scenario adaptation, and security protection, becoming a key support for its core competitiveness. In terms of clearing efficiency, the system deeply integrates blockchain and smart contract technologies, achieving real-time clearing in 8 seconds, more than 300 times faster than traditional cross-border payments. Chinalco Group used this technology to complete cross-border aluminum ingot delivery, reducing the entire process from 7 days to 19 minutes and saving 83% on compliance costs, fully demonstrating the value of technology empowerment. The system’s adaptability to various scenarios continues to upgrade. New regulations clarify the mBridge interface standard, and multilateral central bank digital currency cross-border clearing tests will begin in March 2026. Currently, it has achieved efficient processing of multiple currencies. The system has already launched transactions in five major currencies, including USD, EUR, and JPY, adopting a multi-currency account + single-message system design, capable of processing 3,000 multi-currency transactions per second. In 2026, it will also complete the ISO 20022 message standard upgrade, further enhancing international compatibility. The dual offline payment technology for cross-border passenger transport on the China-Laos Railway breaks through network limitations, making the cross-border payment experience comparable to domestic transfers, demonstrating the technology’s implementation capabilities. Technology output and security protection form a dual barrier. Sifang Jingchuang leads the design of the underlying architecture for cross-border payments, and its blockchain technology has been implemented in more than 10 digital RMB cross-border projects in the Middle East and Southeast Asia. Changliang Technology’s “multi-currency, second-level clearing system” serves over 200 banks and is currently deploying CIPS integration solutions for Middle Eastern institutions, making technology export a significant growth driver. On the security front, Xin’an Century’s quantum encryption technology has been certified by the central bank and provides security modules for directly participating banks such as Bank of Communications and Bank of China. Combined with the CIPS account “zero balance, end-of-day clearing” mechanism and cross-bank real-time query function, it successfully intercepted 37 suspicious transactions in 2024, involving 120 million yuan, ensuring the secure settlement of funds. From technological innovation to explosive profit growth, CIPS is driven by a dual approach of “technology empowerment + scale expansion,” leveraging the synergistic advantages and scenario breakthroughs following the implementation of new regulations to continuously reshape the global cross-border payment landscape and become a core financial infrastructure in the process of RMB internationalization.