Development of China’s CBDC [Central Bank Digital Currency], continues to point out signs of progress. Earlier on 8th July, a leading domestic e-commerce platform and a video sharing website platform both joined the CBDC project, consistent with the native news media.
Two renowned firms Meituan & Bilibilibili have apparently both begun to cooperate with a number of banks involved within the digital Yuan project. Meituan is a leading service platform with over 240 Mln consumers and 5 Mln local merchants, and Bilibilibili is known as China’s largest video sharing web-site.
Additionally, Chinese multinational tech group, ByteDance, is also said to be in close discussion with the banks about CBDC partnership.