Meituan Integrates China’s Digital Yuan

The Chinese food-delivery group Meituan has allowed partner merchants to accept the digital yuan (e-CNY). According to the South China Morning Post, users paying with the CBDC will be issued discount coupons.

Meituan — the third-largest publicly listed company in China after Alibaba and Tencent. Its market capitalisation exceeds $201 billion.

China plans to use the digital yuan at the Winter Olympic Games, which start on February 4 in Beijing. The country’s government plans to restrict payments via Alipay and WeChat in the Olympic Village, according to Bloomberg.

On 4 January, authorities in China launched a pilot version of a mobile wallet for using the digital yuan. The initiative was developed by the Digital Currency Institute of the People’s Bank of China.

To download the app, one must be physically located in one of the testing sites: Shenzhen, Suzhou, Сюнъане, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian or the Olympic Games zone.

The mobile wallet for using the digital yuan topped the app-store charts in the first week after launch.

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