ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Comment

Cashless pioneer China extends lead with digital yuan

Ease of use makes central-bank-backed virtual currency attractive

China's central bank has been working toward a full launch of a digital version of the yuan. (Photo by Iori Kawate)

TOKYO -- I suffered one of the most embarrassing moments of my life the other day, when I finished my bowl of noodles at a popular Chinese restaurant in the Japanese capital and was about to pay the bill.

After telling the server I would use my phone to pay for the meal, I received an utterly unexpected response: "We are cash-only."

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more