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International settlement

The World Digital Money Bank provides international settlement services to users in accordance with relevant international laws and regulations and the laws of the countries in which the world's branches are located. The settlement service is innovatively adopting the “Legal Tender + Digital Currency” dual to currency model, especially in the use of the world. After the blockchain technology is settled by digital currency, the settlement procedure is simple, low cost, fast, and safe. It can effectively avoid capital loss caused by exchange rate fluctuations in international trade and avoid exchange rate risks. Services include:


1.Import settlement


      Remittance: The Bank uses blockchain technology to build connection between digital banking institutions and major banking institutions, making import settlement procedures simple, low-cost, fast, and safe, and the Bank provides various of quick and convenient remittance tools. To secure and quickly remit customer payments to designated payees worldwide, and to provide customers with a wide range of service networks and tracking services. When the customer handles the remittance, we design the most direct and fastest remittance path for the customer, save the intermediate fee of the remittance, and ensure the safety and fast arrival of the client's funds.


       Import L/C: The Bank pays in accordance with the relevant international laws and regulations and the laws of the countries where the branches are located in accordance with the requirements of the applicant for the issuance, the beneficiary, a certain amount of money, and the payment of the prescribed documents within a certain period of time with guarantee, according to different standards, letters of credit can be divided into negotiation, spot payment, late payment and acceptance letter of credit; spot and forward letter of credit; special types of letters of credit include: fake forward letter of credit, transferable letter of credit, back to back Letter of credit, loop of credit, and letter of credit.


2.Export settlement


1) Inward remittance: The Bank uses blockchain technology to connect digital banking institutions with the world's major banking institutions, making export settlement procedures simple, low-cost, fast, and highly secure. The remittance bank receives certain amount of remittances and after the completion, the client will be responsible for the payment of the remittance to the designated payee. The parties involved in the remittance business are remitter, remittance bank and payee.


2)Export L/C: In accordance with the relevant international laws and regulations and the laws of the countries where the bank's branches are based, the Bank handles the checking and issuance of orders, export orders, etc. according to the documents issued by the foreign banks and the documents submitted by the customers (exporters). A settlement business of reimbursement. Including letter of credit notice, review, negotiation, billing, remittance, collection, settlement and other business links.


3.Cross-border settlement


The Bank implements the monetary function of pricing and settlement in cross-border trading among major banking institutions in the world according to the AIO anchored RMB 1:1 method which the import and export enterprises in the cross-border trading in the Asian dollar ACU When denouncing and conducting external payment, the commercial bank provides the international settlement business using the Asian dollar ACU as the cross-border settlement currency.

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