Starbucks and McDonald's to Take Part in Digital Yuan Tests
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23 April
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According to local media Chain News, the US giants McDonald's and Starbucks are planning to participate in the tests of the digital yuan, China's new digital currency, which will take place in the country's Xiong'An new district.

The Reformation and Development Commission of the Xiong'An district held a meeting yesterday regarding the launch of a pilot for the digital yuan, according to a government document accessed by the news outlet.

This measure represents a new effort by the Chinese government to test the digital yuan, as the currency is already being tested by several state-owned banks.

The meeting has been reportedly attended by government representatives, 4 state-owned commercial banks, Ant Financial, Tencent as well as 19 restaurants, entertainment and retail stores.

While it is still unknown when the tests will start, it has been reported participants include McDonald's, Starbucks and Subway.

A couple of days ago iHodl reported the Central Bank of China had said the digital yuan will be ready to be used in the 2020 Winter Olympics.

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