According to a recent report, Beijing is pressing the fast-food retail chain McDonald’s to support the digital yuan before the Winter Olympics in China scheduled for February 2022. The report notes that China is also pushing companies like Visa and Nike to join in on the central bank digital currency (CBDC) rollout.
Chinese Government Pushes McDonald’s, Visa, Nike to Accept CBDC
The People’s Republic of China is preparing for its full roll-out of the CBDC in February 2022, during the introduction of the Beijing Winter Olympics. According to the Financial Times’ (FT) unnamed sources, the Chinese government wants McDonald’s to get on board with the digital yuan. FT notes that a large quantity of McDonald’s restaurants in Shanghai are currently testing China’s CBDC.
Now Beijing is pressing the company itself to get more McDonald’s restaurants to follow Shanghai’s lead. A source stemming from McDonald’s told FT: “Shanghai is our pilot city and we will learn from cust
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