Several supermarkets and restaurant chains such as McDonald’s, Subway or Starbucks, would have been selected to test the new digital currency of the China in the economic zone of Xiong’an.
At the start of the week, the Xiong’An District Reform and Development Commission in Hebei Province allegedly held a meeting around launching a pilot for the crypto-yuan, reports ChainNews.
According to local media, the meeting brought together Chinese banking institutions, scientific research institutes, big companies like Huawei, Tencent and Baidu, food shops, but also popular restaurant brands such as McDonald’s, Starbucks and Subway.
Several state-owned commercial banks have been working for some time on wallet apps for the Chinese CBDC, also known as DC / EP.
The chinese central bank is well on its way to completing the design of its digital currency. The development of essential functionality would be completed and the government would tackle the legislative component of the issuance of a CBDC.
Recently, we learned that the China could issue its CBDC on the occasion of 2022 Winter Olympics. The country is preparing to test a mobile app for storing and exchanging electronic money.
Read also : China brings together its digital champions around the blockchain
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