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.
Chinese authorities have arrested 77 individuals and shuttered gambling sites using the dollar-pegged tether (USDT) cryptocurrency.
Chen Yulu, deputy governor of the People's Bank of China, said over the weekend the digital yuan project should be accelerated as an important part of the nation's financial infrastructure.
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.
The nation would wield stronger influence in the world as a result of the digital yuan issuance, according to a magazine from the People’s Bank of China (PBoC)
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.