ChainCatcher reported that Wells Fargo (WFC) and HSBC will expand their blockchain-based foreign exchange transaction settlement system to include offshore RMB.

The system, which debuted in December 2021 and supports the U.S. dollar, British pound, euro and Canadian dollar, has settled more than $200 billion in trades to date. The system uses HSBC’s proprietary technology, which is built on Baton Systems’ blockchain-inspired CORE distributed ledger technology.