Didi Chuxing, with 500 million users, will launch a pilot program for DCEP, with reports of Meituan-Dianping and Bilibili joining as well.

According to reports, the ride-hailing and transportation network platform "Didi Chuxing (DiDi)," which has 500 million users in China, has established a strategic partnership with the Digital Currency Research Institute of the People's Bank of China (PBOC) to design and implement pilot projects for DCEP. In addition, according to Caixin, Meituan Dianping and Bilibili have also joined in the development of application scenarios.

Didi Joins DCEP Pilot

Known as the "Chinese version of Uber," Didi Chuxing is currently the largest ride-hailing platform in China. The company was founded in 2012 with investments from SoftBank, Apple, Alibaba, and Tencent, and later acquired Uber China's brand, business, data, and all other assets through a stock swap in 2016, becoming the largest ride-hailing platform in China.

According to a report by blockchain media CoinDesk, Didi has established a strategic partnership with the Digital Currency Research Institute of the People's Bank of China (PBOC) and is forming a team to design a pilot program for the People's Bank of China Digital Currency (DCEP) on its application platform. The company stated:

"Based on the PBOC's DCEP strategy and schedule, Didi's DCEP project team will design and implement a pilot program for DCEP on the platform based on security, protection, and strict governance standards."

Furthermore, the company added that as the government seeks to support the development of the real economy through innovative financial services, cooperation with the central bank is a key milestone for Didi to enhance the connectivity between online and offline economies in China.

While specific details of the cooperation are not yet clear, the pilot program could become one of the first and potentially the largest practical application of the Chinese digital currency project. Didi Chuxing has over 500 million users in China and holds over 90% market share in the country's ride-hailing platform, making it an integral part of Chinese daily life. Collaboration with Didi is expected to accelerate the adoption and development of DCEP in China.

Additionally, popular food delivery platform Meituan-Dianping and the well-known video-sharing platform Bilibili, reportedly, are also developing practical application scenarios.

The Chinese government has been actively promoting the adoption of DCEP, aiming to seamlessly integrate it into the daily lives of the general public. According to a document revealed by Interchain Pulse, a list of DCEP pilot projects in Xiong'an, Hebei Province, includes partnerships with catering and retail businesses, as well as two well-known chain enterprises, Starbucks and McDonald's.

When Will DCEP Land

According to previous reports, Yi Gang, Governor of the People's Bank of China, stated in an interview with China Finance during the "Two Sessions" that the digital economy is becoming an increasingly important driver of global economic growth. The research and application of legal digital currency are beneficial in efficiently meeting the public's demand for legal tender under digital economic conditions, improving the convenience, security, and anti-counterfeiting level of retail payments, and accelerating the development of our country's digital economy.

When asked about the timing of the official launch of DCEP, he directly stated:

"However, the current pilot testing is still part of the routine work in the research and development process, and does not mean that the digital RMB will be officially launched. There is no timetable for the official launch yet."