Development of China’s central bank digital currency, or CBDC, continues to show signs of progress. On July 8, a major domestic e-commerce platform and a video sharing site both joined the CBDC project, according to local news.
Companies Meituan and Bilibilibili have apparently both begun to cooperate with a number of banks involved in the digital Yuan project. Meituan is a major service platform with over 240 million consumers and five million local merchants, and Bilibilibili is known as China’s largest video sharing website.