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Chinese ride-hailing app partners central bank for digital currency pilot

The bank has been studying digital currency since 2014

China digital currency

Chinese ride-hailing app partners central bank for digital currency pilot. Source: pixabay.com

Didi Chuxing has entered into a partnership with the People’s Bank of China to test central bank digital currency.

This way, Didi joined a list of companies, including Starbucks and McDonald’s taking part in testing.

At the same time, four state banks have been testing a wallet to keep and send the digital currency.

Despite the launch date hasn’t been disclosed, the People’s Bank of China has revealed the digital currency is likely to be introduced in 2022 during the Winter Olympics.

We’ve reported that the Bank of Thailand (BOT) has announced the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC). The rollout will begin in July and is expected to conclude by the end of 2020.

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