In the ongoing field test of China’s digital Renminbi (RMB), the American food and beverage chains McDonald’s, Starbucks, and Subway have not took part in.
Despite previous reports claiming that McDonald’s, Starbucks, and Subway are three of the 19 companies that will participate in the Xiongan area pilot test of China’s digital RMB, a recent Sina News Agency report suggests that the famous American staples have not yet participated in the experiment.
UnionPay Unmanned Supermarket and Villaco Cake Shop, accept digital RMB payments provided by the People’s Bank of China (PBOC). However, the companies listed currently accept payments via digital payment processors such as WeChat, Alipay, and QuickPass.
Conceptualized by the PBOC six years ago, the digital currency pilot program, Digital Currency Electronic Payment (DCEP), was introduced at the end of April. While little is known about China’s digital currency’s nature, experts say the privacy and anonymity that attracts some to the digital asset space would probably be missing.
In Shenzhen, Suzhou, and Chengdu, the PBOC is also testing its digital currency outside of the Xiong’an region. According to FinTech, over 1.1 billion DCEP transactions have been piloted across China as of mid-October.