Starbucks, McDonald’s Among 19 Firms to Test China’s Digital Yuan: Report
The food and beverage giants are among the restaurants and retail shops reportedly on a local government list for testing of China's central bank digital currency.
The promotion is part of China's efforts to try out out and stimulate usage of its new digital currency.
China Construction Bank’s brief digital yuan debut suggests that hardware wallets for the central bank digital currency may be in the works.
The new version will essentially also clear the way for the digital yuan to be the one and only official yuan-pegged token in mainland China.
China Construction Bank had quietly opened up the wallet service of China's digital yuan to public users – but has now disabled it shortly after the feature gained wide attention.
A former vice president of the Bank of China has argued digital currency should replace fiat in the nation's financial systems.