At the 26th China International Fair for Investment and Trade, which opened in Xiamen on September 8, 2026, DBS made a notable appearance, marking its second consecutive year of participating in the CIPS cross-border bank-enterprise cooperation session and setting up a booth in its dedicated zone.

During the CIPS cross-border bank-enterprise cooperation event, DBS China President Tan Siew Tsin represented the bank in the launch ceremony for offshore direct participants. This signified that DBS Singapore has officially achieved system connectivity as an offshore direct participant of the Cross-Border Interbank Payment System. The milestone positions DBS as the first Singapore bank to fully integrate CIPS direct connectivity into its own service offerings.

Singapore CIPS direct connectivity is now accessible to all clients through DBS's corporate banking digital channels, including DBS IDEAL, open API (RAPID), and IDEAL Connect. Since the trial phase began in April of this year, DBS has effectively processed approximately RMB 24 billion in payment transactions, with business volume growing by double digits on a month-on-month basis. Trial users include corporate clients from diverse sectors such as construction, consumer goods, and manufacturing across multiple markets.

Leveraging straight-through processing technology and near-real-time fund crediting capabilities, the CIPS direct connectivity service fully empowers cross-border RMB transactions. Compared with the traditional model, where standard settlement can take up to two working days, the CIPS direct service demonstrates significant advantages: expedited fund processing, greater operational flexibility, and more efficient and transparent transaction workflows. Additionally, DBS has extended the standard cut-off time for receiving cross-border RMB payments in Singapore, providing clients with a more generous operational window for processing time-sensitive transactions.

Tan Siew Tsin, President of DBS China, stated, "The launch of this Singapore CIPS direct connectivity capability once again reinforces DBS's long-standing commitment to supporting RMB internationalization, strengthening RMB payment infrastructure, and facilitating global trade. We will use this as a new foundation to further deepen bilateral financial connectivity between China and Singapore, comprehensively enable the real economy's high-level 'going global' initiatives, and leverage this as a window to attract more global capital to invest in China."

With global trade uncertainties intensifying and cross-border RMB usage on the rise, enterprises increasingly require diversified solutions to more robustly manage cross-border trade, optimize liquidity, and effectively hedge against FX risks. By value, the RMB currently ranks as the world's second-largest trade finance currency and the fifth most active payment currency. CIPS daily processing volume has grown from RMB 680 billion in 2025 to RMB 828 billion by June 2026.

For large enterprises, incorporating the RMB into treasury management systems can establish a natural hedging mechanism. This not only complements overall treasury strategies but also helps enterprises efficiently access RMB-denominated liquidity support, cross-border financing, and asset management solutions. For small and medium-sized enterprises, transacting in RMB helps mitigate FX risk and reduce transaction frictions when dealing with overseas suppliers.

Chan Pei Ying, Head of Global Transaction Services at DBS China, remarked, "Enterprises today increasingly prefer diversified currency strategies to hedge risks, optimize costs, and drive growth in their Asian operations, which makes efficient cross-border RMB transaction capabilities a core requirement. The continuous expansion of CIPS direct connectivity services reflects DBS's long-term commitment to upgrading cross-border RMB solutions, aiming to help clients process cross-border transactions more economically, efficiently, and conveniently."

The Singapore CIPS direct connectivity deeply leverages DBS's existing comprehensive cross-border RMB solution matrix. It not only helps clients configure a broader range of RMB-denominated financial instruments but also achieves seamless connectivity between offshore and onshore RMB businesses. Since 2015, DBS China has been one of the first batch of direct participants in CIPS. DBS is also the first Singapore bank approved by the People's Bank of China to serve as a RMB clearing bank and to participate in over-the-counter business in the China interbank bond market.