China has drawn plenty of flak from across the globe for its way of handling the novel coronavirus pandemic. However, the digital currency market continues to surge in the country.
China is a country here the digital currency has grown a lot. In a recent move it is now trying a hand on the Tencent-backed food delivery giant Meituan Dianping to its list of platforms that will test real-world use cases of the digital yuan.
Meituan Dianping is based in the national capital of China and has more than 435 million active users with billions of transactions through out the day.
Thus it is a chance for the digital yuan to rise here. A close source dealing the matter told Bloomberg that Meituan was in talks with research arm of central bank.
“The Tencent-backed video streaming platform Bilibili is also reportedly in discussions with the PBoC to test the digital yuan. Recently, one of the largest ride-hailing applications DiDi also joined the project,” a report in Cointelegraph said.
China has however not allotted any dates for the launch of the digital yuan. It has been understood that the country has made full use of the pandemic situation for the growth.