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SVB Adds Renminbi To FX Trading Desk

Silicon Valley Bank has added offshore Renminbi to the tradable currencies at its foreign exchange trading desk.

Silicon Valley Bank (SVB) has added offshore Renminbi to the tradable currencies at its foreign exchange trading desk. The Santa Clara, California-based bank has also launched its offshore Renminbi multi-currency account.

The new services will let SVB’s multi-national clients combine funds and settle international trade for goods and services in Renminbi. The multi-currency accounts of the bank are foreign currency deposit accounts held at SVB that are Federal Deposit Insurance Corporation-insured.

Click here for the release from PR newswire.

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