Starbucks and McDonald’s are reportedly not part of the 3,000 merchants piloting China’s CBDC

F&B giants Starbucks and McDonald’s are reportedly not involved in ongoing China’s CBDC trials, as reported by the Sina Finance news site.

Starbucks and McDonald’s are reportedly not part of the 3,000 merchants piloting China’s CBDC

At the moment, China’s central bank digital currency (CBDC) is still being tested on a small scale, mainly related to the retail and food industry. And this is also why many people think Starbucks and McDonald’s are participating in the DC / EP pilot. However, the fact is that they have not used digital yuan to make payments so far.

Xi’an, one of China’s major cities that is piloting the digital yuan, is believed to have 19 companies participating in the CBDC pilot program. Including cloud projects by Starbucks, McDonald’s, Subway, and UnionPay, Unmanned Automated Supermarket.

However, the reality is that so far, no companies have participated in the testing of digital yuan and only accept digital payments through WeChat, Alipay, and QuickPass.

No company has made an official statement about the testing of a digital yuan. Until this point, Starbucks and McDonald’s have remained silent on this question.

The Chinese authorities launched the first digital yuan tests in April 2020. On October 5, China’s central bank announced that the related wallets of the coin processed $ 162 million in transactions from April to August 2020. Furthermore, the Central Bank of China also holds the DC / EP lottery with a prize value of up to $ 1.5 million. According to the latest news, 2 million people have registered for the lottery to win prizes at 3,000 points of sale.

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