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China Plans to Test Digital Yuan on Food Delivery Giant’s Platforms

  • Meituan joins Didi in exploring the adoption of the DCEP
  • A digital yuan promises better industry and economy control
Daily Life in Dongguan as Millions of Newly Jobless in China Pose a Looming Threat to Xi
Photographer: Qilai Shen/Bloomberg
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China’s central bank is planning to test its digital currency on platforms operated by Meituan Dianping, enlisting the food delivery giant backed by Tencent Holdings Ltd. in a major step toward the token’s mass adoption.

Meituan has been in talks with a research wing of the People’s Bank of China on real-world uses for the virtual legal tender dubbed Digital Currency Electronic Payment or DCEP, according to people with direct knowledge of the matter. The specifics of the partnership have yet to be finalized, they added, asking not to be identified revealing private discussions.