The People’s Bank of China’s Digital Currency Research Institute has signed a strategic partnership with Ant Group to promote the Digital Yuan Technology Platform (DCEP), according to the 21st Century Business Herald .
According to the publication, the platform will be based on the 21st Century Business Herald Ant Group’s own distributed database called OceanBase and the mPaaS mobile application development solution.
The central bank expects OceanBase to provide robust data consistency, high-traffic efficiency, help implement multi-site real-time applications, and provide city-level disaster recovery.
mPaaS, a derivative of Alipay’s mobile development platform, aims to provide an end-to-end solution for day-to-day digital currency use.
Under the agreement, Ant Group will also participate in DCEP’s internal closed tests in Shenzhen, Suzhou, Xiong’an, Chengdu and the Winter Olympics.
The Chinese edition noted that according to it, the company has been involved in the development of the digital yuan for several years.
In February, the media reported that Ant Group, together with Tencent, provided technical support for DCEP testing by private banks WeBank and MYbank.