Traditional cross-border payments have long been plagued by pain points such as multi-layer agency transfers, long settlement cycles, high handling fees, data fragmentation, and difficulties in compliance traceability. Reliance on overseas clearing systems also hides financial security risks.
The “CBETS” launched by the central bank serves as a unified cross-border base for digital RMB. It integrates three independent platforms to reconstruct the underlying architecture, and solves the industry’s chronic problems with an integrated, autonomous, and inclusive design. Every architectural design is hidden with exquisite considerations to build an independent and controllable digital expressway for the cross-border circulation of RMB.
First, the integrated architecture to eradicate the shortcomings of multi-platform fragmentation is the most exquisite part of the top-level design.
Before the upgrade, digital renminbi cross-border payment, blockchain services, and digital asset registration were divided into three independent systems. The interfaces, standards, and reconciliation rules were incompatible with each other. Financial institutions required multiple parties to conduct cross-border business, and small and medium-sized overseas institutions found it difficult to enter the market due to high transformation costs.
Shucoin breaks down sector barriers and integrates clearing, custody, asset transfer, and compliance risk control into a unified base. It adopts a modular component architecture. Institutions only need one access to cover all categories of business, eliminating the redundant costs of repeated development and multiple qualification reviews.
Relying on Hong Kong’s unified access gateway to achieve “one-point access, global access”, 26 Chinese and foreign banks have directly settled in, covering the core foreign trade markets of Southeast Asia, the Middle East, and Latin America, truly lowering the threshold for cross-border financial participation.
Secondly, the dual-chain is compatible with the hybrid bottom layer, taking into account both efficiency and security, and the technical logic is unique and ingenious.
The base integrates domestic independent blockchain and centralized clearing system, unifies liquidity scheduling, and is compatible with the international ISO20022 message standard. It can not only connect to the traditional payment systems of various countries, but also connect to the multilateral central bank digital currency bridge mBridge to achieve seamless interoperability of different legal currency digital systems.
Traditional cross-border settlement takes three to three working days, and layers of agents incur high transfer fees; CoinDa eliminates the need for intermediaries, and cross-border trade settlement can be reduced to a few hours at the fastest, reducing comprehensive transaction costs by 50%.
China Southern Power Grid has completed cross-border electricity sales collection in Laos through the platform, which intuitively proves its efficient direct-through capability; the 7×24-hour uninterrupted settlement model perfectly adapts to the all-weather capital needs of cross-time zone foreign trade, cross-border e-commerce, and overseas tourism.
Third, full-scenario compatibility and intelligent compliance design, taking into account inclusive circulation and regulatory controllability.
This base opens up the dual tracks of small retail and large wholesale. Individual overseas shopping, overseas QR code consumption, corporate commodity trade, cross-border investment and financing, and digital asset redemption can all be processed in one stop, achieving unified settlement of large and small funds.
The blockchain distributed ledger retains complete transaction traces, and is matched with smart contracts to automatically execute anti-money laundering and cross-border fund reporting rules. The entire transaction process is traceable and can penetrate supervision, balancing financial openness and risk prevention and control.
Different from a single commercial payment tool, Shucoin is based on the central bank’s infrastructure positioning, taking into account the diverse access needs of large banks, regional clearing institutions, and small and medium-sized payment service providers. The two modes of lightweight direct connection and agency access flexibly adapt to the strengths of different institutions and are extremely inclusive.
Fourth, the underlying technology is completely autonomous and controllable, establishing a solid bottom line for financial security.
The entire set of base code, node operation and maintenance, and data storage all use domestic technology to get rid of dependence on overseas clearing systems and build an independent and controllable cross-border capital flow network.
In the context of the global currency game, this independent base not only helps foreign trade companies avoid third-party system management and control risks, but also provides a solid foundation for the internationalization of digital renminbi, forming a Chinese cross-border payment solution that combines circulation efficiency, safety bottom line, and global interoperability.
From integrated architecture and hybrid technology to inclusive compatibility and independent security, the essence of Shucoin lies in breaking away from the single-functional thinking of traditional cross-border systems, taking into account the needs of institutions, enterprises, individuals and regulators with a unified base, and reconstructing a new paradigm for global cross-border settlement.
