China to Test Digital Yuan on Food Delivery Platform With 435 Million Users

The People’s Bank of China (PBoC) is planning to add the food delivery giant Meituan Dianping to its list of platforms that will test real-world use cases of the digital yuan. This platform currently boasts of more than 435 million active users and billions of dollars of daily transactions. This creates a huge opportunity for the mass adoption of the digital yuan.

China is making fast progress. The central bank and its research wing have been increasing their efforts to explore the use cases of the digital currency in the real world.

In April, there were rumors about the launch of a wallet application across four Chinese cities — Shenzhen, Chengdu, Suzhou and Xiongan — for the initial testing of the digital currency.