Crypto News

China’s Ride-Sharing Giant Didi Chuxing Adopts Digital Yuan for Mobility

Didi Chuxing’s Digital Yuan Service for Motorcycle Rentals

China’s ride-sharing leader, Didi Chuxing, has introduced a new digital yuan service, allowing residents in 250 regions of the country to utilize their CBDC coins for motorcycle rentals.

Didi Qingjue Facilitates Digital Yuan Integration

The initiative is carried out through Didi Chuxing’s affiliate, Didi Qingjue, which manages an app-powered motorcycle-sharing platform. Previous developments have witnessed Didi Chuxing affiliates providing digital yuan payment options for bicycles and Uber-like ride-hailing services to customers.

Quick and Convenient CBDC Payments for Motorcycle Rentals

In the pilot zones, users now have the option to select the e-CNY as a payment method within the Didi Chuxing app. Additionally, quick CBDC payment choices are available via mobile widgets when hiring motorbikes.

Early Involvement in the e-CNY Project

Didi Chuxing was among the initial private sector transport operators to participate in the e-CNY project, commencing a bicycle-sharing pilot in June 2020. The company entered into a “strategic cooperation agreement” with the Digital Currency Research Institute, the CBDC division of the central People’s Bank of China.

Promoting Digital Yuan Adoption in the Travel Sector

Didi’s latest move is aimed at increasing adoption and offering more payment options for its customers. The company stated its commitment to “continue to promote the application of the digital yuan in the travel sector.”

Chinese Public Transport Operators Leading the Way in CBDC Adoption

State-run public transport operators in China have been at the forefront of CBDC adoption. Some of the initial real-world e-CNY transactions involved civil servants using public bus routes. Over the years, adoption has expanded to city metro systems, rail networks, and highway toll booths. In Jinan, the entire bus network now accepts digital yuan payments.

Digital Yuan in B2B Sector

In the business-to-business (B2B) realm, Chinese banks have been creating digital yuan-powered supply chain financing solutions that leverage e-CNY smart contract technology.

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