Bank of China Zhejiang, PingPong Launch One-Stop Local Currency Settlement Covering 20-Plus Minor Currencies

On August 12, 2026, Bank of China Zhejiang Branch and cross-border payment platform PingPong officially launched the One-Stop Global Local Currency Collection Solution. The solution addresses minor-currency settlement difficulties in emerging markets including Africa and Latin America, helping enterprises reduce overall cross-border settlement costs and improve payment experience through an innovative service model.

Previously, export enterprises had long been troubled by difficulties in receiving payments in minor currencies, high exchange-rate volatility and complex settlement routes; the launch aims to resolve these problems.

Through its product and service framework covering cross-border RMB, letters of credit, overseas guarantees, cash management and exchange-rate hedging, Bank of China Zhejiang Branch has provided more than US$10 billion in funding support for cross-border trade settlement between Zhejiang enterprises and emerging-market countries.

PingPong has accumulated more than 80 global payment licences and qualifications, cooperates with more than 260 banks and financial institutions worldwide, supports local collection in more than 20 minor currencies across Southeast Asia, Africa, Latin America and the Middle East, and supports direct conversion of minor currencies into RMB.