China to Test Digital Yuan on Tencent-Backed Food Delivery Platform

Christel Deskins

China wants to trial its digital yuan on online food seller Meituan-Dianping, as well as another two Tencent-backed companies. The Beijing-based company has held talks with the research wing at the People’s Bank of China (PBoC) over trialing the digital yuan on their platform, according to sources speaking to Bloomberg. […]

China wants to trial its digital yuan on online food seller Meituan-Dianping, as well as another two Tencent-backed companies.

  • The Beijing-based company has held talks with the research wing at the People’s Bank of China (PBoC) over trialing the digital yuan on their platform, according to sources speaking to Bloomberg.
  • The exact details of the collaboration are not yet known; the digital yuan is formally known as the Digital Currency Electronic Payment (DCEP)
  • Listed in Hong Kong, Meituan-Dianping’s 400 million active users make it one of the largest food delivery platforms in the world; revenues in 2019 increased nearly 50% to RMB97.5 billion (~$14 billion).
  • It is backed by internet giant Tencent who had a 20% equity stake just before the 2018 initial public offering and remains a major investor.
  • Tencent, which also owns popular messaging and payments app WeChat, is set to be one of the primary commercial issuers for the digital yuan when it goes live.
  • It has also set aside billions of dollars to invest in new technologies, including blockchain.
  • Two other Tencent-backed companies are also said to be in advanced talks with PBoC.
  • This includes video-streaming platform Bilibili, according to Bloomberg sources, which received a $300 million commit from Tencent in late 2018.
  • Last week, ride-hailing startup Didi Chuxing said it would trial the digital yuan as a new payment option; Tencent invested $15 million in 2013.

Related Stories

Source Article

Next Post

Lenovo Flex 5G review: Stunning battery life ruined by Windows on ARM

In use and app compatibility The most fascinating feature of the Flex 5G is the Snapdragon 8cx CPU that keeps it running. It’s similar to the Qualcomm-Microsoft SQ1 chipset that powers the Surface Pro X, and the technical differences aren’t very clear. The 8cx is supposed to provide “extreme” performance […]
Lenovo Flex 5G review: Stunning battery life ruined by Windows on ARM

Subscribe US Now

mega sloto

Liga228 Situs web judi bola terpercaya terbesar dan terpercaya di Indonesia.

situs judi bola terbaik dan terbesar di Indonesia saat ini adalah Winning228.

Situs sbobet resmi terpercaya. Daftar situs slot online gacor resmi terbaik. Agen situs judi bola resmi terpercaya. Situs idn poker online resmi. Agen situs idn poker online resmi terpercaya. Situs idn poker terpercaya.

situs idn poker terbesar di Indonesia.

List website idn poker terbaik. Deposit Cuan Slot Paling Murah

Game situs slot online resmi

slot hoki online

slot Indonesia

bocoran rtp slot

judi bola sbobet

Situs BandarQQ Online Terpercaya

??????????????? ???????????????

slot gacor hari ini judi slot online IDN Poker Online hoki slot rtp slot slot online slot online judi bola terpercaya slot online terpercaya prediksi parlay hari ini judi bola