Financial Supervisory Commission of Taiwan granted approval of operations.
Bank of East Asia Ltd. said Wednesday its Taiwan offshore unit has begun offering yuan services.
The bank said in a statement that it started the service after receiving approval from the Financial Supervisory Commission of Taiwan, according to a report in Fox Business.
Yuan services at the bank's Taiwan Offshore Banking Unit include deposits, loans, trade finance, remittance and currency exchange, Bank of East Asia said.
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