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4/23/2020, 2:44 PM (Source: TeleTrader)
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McDonald's among firms to test China's digital currency

McDonald's Corp., Starbucks Corp., and Subway are among companies that will test China's new sovereign digital currency, the country's central bank announced on Thursday.

The national digital currency, which is supposed to act as a digital form of yuan, is set to be tested in Shenzhen, Suzhou, Xiong’An, and Chengdu, the People’s Bank of China (PBOC) said last week.

The trials won't affect commercial operations of the companies involved, Chinese financial markets, or fiat currency circulation outside the test environment, the bank stated at the time.

Baha Breaking the News (BBN) / MD