Digital Yuan CBDC Momentum Grows as More Chinese Firms Get to Testing

Despite the global economic crisis and the consequences of the coronavirus pandemic, the development of the Chinese national cryptocurrency, the Digital Currency Electronic Payment, is steadily progressing. The increase in the number of large companies joining the digital yuan initiative as partners in testing and implementing the technology is clear evidence of the progress the project is making in its development.

Meituan Dianping (OTC:), the country’s largest wholesale and delivery platform for products, has become the latest corporation to agree to assist the People’s Bank of China in testing and implementing the initiative. The platform currently has almost 450 million customers and about 6 million companies using it to sell their products.

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