China’s central bank is partnering up with the country’s ride-hailing giant Didi Chuxing to test the use of its sovereign digital currency. The digital yuan may be offered to the public as early as next year.
The regulator is working with Didi to apply digital currency electronic payment (DCEP) to the ride-hailing app, Didi said on Wednesday. The company, which currently serves a total of over 550 million users and is often described as China’s Uber, may thus become one of the world’s first’s corporate users of a government-created virtual currency.
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