China accelerates testing of sovereign digital currency, foreign consumer brands included

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China’s central bank has accelerated the testing of its new sovereign digital currency and, for the first time, several foreign consumer brands including Starbucks and McDonald’s will be included in the programme.

The Reformation and Development Commission of the Xiong'An district in Hebei province reportedly convened a meeting on Wednesday to discuss the rollout of a pilot for China's digital currency initiative, a local news outlet InterChina Pulse reported on Thursday, citing a government document. Xiong’an is a new city that is heavily under construction, and it is planned to take some . . .

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