Chinese Internet Giant Tencent to Launch Digital Currency Research Team
Tencent, the Chinese internet giant and owner of WeChat, is reportedly forming a team to explore possible new use cases for cryptocurrencies.
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.
China’s central bank confirmed it will be testing a mobile app for the digital yuan in four cities, with a fifth in the works, and emphasized it’s a test.
China's central bank, part of CoinDesk's new 50 list, is a pioneer of central digital currencies. Now the rest of the world is racing to catch up.
Thirty-eight banks have started using the platform since it entered the test phase in September 2018.
A new paper from the PBoC says the “top-level” design of its digital currency is complete while AMLD5 in Europe is causing crypto companies to flee.