(Finance) – IATA is preparing to introduce digital currencies into financial settlement systems applied to the aeronautical industry. By the end of 2024, digital Renminbi will be available within the China Billing and Settlement Plan.
The request for inclusion was made by IATA’s China Airline Committee and this first act should open up integration with other digital currencies, as confirmed by Muhammad Albakri, Iata senior vice president for financial settlement and distribution services.
Iata Currency Clearance Service (Iccs), Iata’s global liquidity management system, It currently manages 74 currencies, including the Offshore Renminbi (Cnh) introduced last July.