China-based e-commerce giant JD.com participates in Digital Yuan studies. A new transformation will begin in the financial field in China with the Digital Yuan.
JD.com will take part in Digital Yuan studies
China, one of the leading countries in digitalization efforts in finance, has been working on a digital currency for a while. With the Digital Yuan, China will go for a radical digitization in this area.
China-based e-commerce giant JD.com is involved in these studies. Mobile and blockchain technology platforms will be developed together under the partnership agreement between the Bank of China and JD.com. The two organizations will bring various online and offline functionalities within the scope of joint work.
It is reported that Digital Yuan is currently being tested in state-owned banks. After the tests, it is aimed to use the Digital Yuan and use it as mobile application payments in cash or retail purchases.
JD.com, which is among the Fortune Global 500, had a revenue of close to $83 billion in 2019. The support of such a comprehensive company for the Digital Yuan gives hope for future work.