Browsing: Yuan

China’s exploration of a yuan-backed stablecoin marks a strategic shift in global finance, facing challenges from dollar dominance and trust issues, while regulatory developments in Hong Kong and Japan shape the future of digital currencies.

China’s potential yuan-backed stablecoin is a strategic move for currency internationalization, not a crypto shift, with Hong Kong’s regulations setting a global benchmark for oversight and corporate engagements driving adoption.

China is considering a major policy shift by potentially allowing yuan-backed stablecoins to boost currency internationalization, amid global regulatory trends and corporate engagements shaping the future of digital assets.

Shanghai officials are showing interest in stablecoins despite China’s crypto ban, signaling a potential shift in the country’s stance on digital currencies.

JD.com and Ant Group are lobbying for yuan-based stablecoins to enhance the Chinese currency’s global role and challenge the dominance of US dollar-pegged tokens.