China begins testing it’s national digital currency, Starbucks, McDonald’s, Tencent, State-owned banks participating

posted 7 months ago
China is rolling out a pilot for the country’s digital yuan initiative. Starbucks and McDonald's are reportedly among 19 restaurants and retail shops that will be involved in testing China's central bank digital currency in the country's Xiong'An new district. State-owned commercial banks are already developing wallet applications for the digital yuan, also known as DC/EP.

State-owned commercial banks, Ant Financial, Tencent, as well as 19 restaurants, entertainment and retail shops will participate in the test. Notable names include McDonald's, Starbucks, Subway, JD Supermarkets in the area, among others. The People's Bank of China has confirmed the ongoing testing efforts.
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