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Chinese Uber Analog Tests Digital Yuan

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digital yuan

Digital Yuan – it’s Central Bank Digital Currency (CBDC).

Chinese taxi aggregator DiDi has announced its participation in testing the country’s central bank digital currency (CBDC).

Digital Yuan

According to a company representative, DiDi agreed with the Research Division of the People’s Bank of China, focused on the study of digital currency. The partnership aims to accelerate the implementation of Digital Currency Electronic Payment (DCEP).

«The DiDi working group on digital currency issues will develop and implement pilot projects on the use of DCEP in accordance with safety, reliability, and government standards, ”the company representative said.

He added that for the company, this project will be the key to improving the relationship between the online and offline sectors of the Chinese economy.

DiDi is the largest taxi aggregator in China with 500 million users. The company also provides car-sharing, delivery, and logistics services. In May, it closed the $ 500 million investment round, after which the company’s valuation exceeded $ 60 billion.

Past Digital Yuan News

Recall that at the end of May a video appeared on the network converting fiat funds into Chinese digital currency.

In April, it became known that 19 stores and restaurants, including establishments of McDonald’s and Starbucks chains, were included in the list of participants in testing the digital yuan. Read more…

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