Starbucks, McDonald’s and Subway to Help Testing China’s CBDC

Starbucks, McDonald’s and Subway will take part in testing the digital currency of the central bank of China. It is reported by the Chinese publication InterChain Pulse.

According to the publication, companies will test the digital currency in Xionang. Several institutions involved in research and development in the field of digital currencies were invited to participate, as well as 19 companies that work in the field of catering — among them Starbucks, McDonald’s, Subway, as well as Qing-Feng Baozi, a fast-food chain in China.

A representative of the Central Bank of China recently confirmed that several state-owned banks are conducting internal digital currency testing in four cities — Shenzhen, Suzhou, Xiongang and Chengdu.

The Central Bank of China has been working on the Digital Yuan since 2014. A spokesman for the Central Bank said the digital currency could be used at the 2022 Winter Olympics, hinting at a possible launch by mid-2021.

Author: Marko Vidrih

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