Starbucks SBUX, McDonald’s, and Subway chains in China have been named on the People’s Bank of China’s list of companies that will test the national digital currency soon, according to Forbes.
Even if it is unclear how those three US brands were chosen, it was a local decision to include those local franchises. This is not for McDonald’s nationwide in the mainland. This currency, referred to also as a digital yuan, will also be given a test at Chinese hotels, convenience stores, a bakery, a bookstore, and a gym in the Xiong’an New Area, a city being built south of Beijing.
On April 20, the WSJ reported that the digital currency rollout would happen outside of the Xiong’an New Area, and also some tests will be conducted in Shenzhen and Chengdu.
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