Western sanctions imposed against Russia following the invasion of Ukraine, including exclusion from the Swift financial messaging system, could offer new development opportunities for China’s digital currency and its home-grown yuan cross-border payment system, analysts said. Both China’s e-CNY and Cross-border Interbank Payment System (CIPS) can facilitate overseas transactions and bypass similar sanctions in crisis situations. “We believe that it is necessary and urgent to vigorously promote yuan internationalisation, especially the development of the CIPS system and the digital yuan,” Citic Securities analyst Ming Ming wrote in a research note on Tuesday. While the market draws attention to China’s own...