China’s food delivery giant Meituan has become the latest tech company to integrate central bank digital currency (CBDC) payments for its services.
Meituan users can link the yuan digital wallet to their service app and use it for a variety of daily services, such as booking hotels, taxis, and paying at restaurants. The daily food and service delivery app recorded 660 million transacting customers last year, and e-CNY payment integration would only help the Beijing government test its sovereign digital currency more widely.
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In recent months, the country’s major tech giants such as WeChat and JD.com (NASDAQ:) have joined the mass retail trials of e-CNY.
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