McDonald’s and Starbucks To Test The Digital Yuan

The world's largest fast-food restaurants, McDonald’s and Starbucks, are among the 19 that will take active participation in testing China's national digital currency (DCEP).

This decision was made after a meeting of the Xun'an District Reform and Development Commission in Hebei Province. Four state banks of China, representatives of 19 largest restaurant chains, as well as Ant Financial and Tencent, will take part in this project.

Before the coronavirus pandemic, representatives of the People’s Bank of China repeatedly stated their readiness for the project, but the virus slowed them down a little. The Chinese authorities are serious and it seems that the product will be ready for mass use in the near future.

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