Singapore RTGS to boost CNH market, says ICBC

Renminbi clearing volumes at Industrial and Commercial Bank of China (ICBC) Singapore branch had reached more than Rmb10tr as of April 8, according to the firm, which is the official RMB clearing bank in Singapore. Its general manager tells GlobalRMB that it is working on launching real-time gross settlement (RTGS) in the city-state, as well as developing other infrastructure.