China’s leading ride-sharing platform, Didi Chuxing, has announced the launch of a new service that allows citizens in 250 cities across the country to use their digital yuan (CBDC) coins to rent motorcycles. The service is provided through Didi Chuxing’s affiliate, Didi Qingjue, which operates an app-powered motorcycle-sharing platform.
Previously, Didi Chuxing had offered digital yuan payment options for bicycles and ride-hailing services through its affiliates. Now, users in the pilot zone will have the option to choose the e-CNY as a payment method within the Didi Chuxing app. Additionally, they can use quick CBDC payment options on mobile widgets when hiring motorbikes.
Early Adoption and Partnerships
Didi Chuxing has been actively involved in the e-CNY project from its early stages, becoming one of the first private sector transport operators to join. In June 2020, the company initiated a bicycle-sharing pilot in collaboration with the Digital Currency Research Institute, the central People’s Bank of China’s CBDC division. Their partnership aimed to explore the application of digital yuan in smart travel.
Boosting Adoption and Expanding Use Cases
The introduction of the digital yuan service for motorcycle rentals by Didi Chuxing is expected to facilitate wider adoption of the CBDC and offer more payment options to its customers. The company intends to further promote the use of digital yuan in the travel sector.
Chinese state-run public transport operators have been at the forefront of CBDC adoption within the country. Civil servants on public bus routes were among the first to conduct “real-world” e-CNY transactions. Since then, adoption has expanded to city metro systems, rail networks, and highway toll booths. For example, the entire bus network in the city of Jinan now accepts digital yuan payments. Some inter-city rail networks, particularly in the Asian Games host cities, have also implemented e-CNY payment systems.
In the business-to-business sector, Chinese banks have been developing digital yuan-powered supply chain financing solutions that leverage e-CNY smart contract technology.
“Didi Chuxing”
“Didi Chuxing affiliate Didi Qingjue”
“Digital Currency Research Institute”
“central People’s Bank of China’s CBDC arm”
