IATA to allow digital RMB in settlement system
China DailyChina is an extremely important market for the International Air Transport Association, and the IATA will continue to strengthen its presence in the Chinese and North Asian markets, a senior official of the association said in Beijing this week. The association said it would offer digital currencies in the settlement system that it operates for the aviation industry, and the first digital currency to be offered will be digital renminbi — expected to be available in China's billing and settlement system by the end of this year. "With China set to become the world's largest passenger market in the coming years, we look forward to deepening our partnership with the Chinese government, our member airlines and stakeholders to bring greater prosperity to the Chinese aviation market," Careen said. With 33 member airlines in the Chinese mainland and 48 members in the North Asia region, the IATA is also running pilot projects for digital upgrades of passenger and cargo transportation in the region.
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IATA to allow digital RMB in settlement system
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