China Softens Stance: What A Yuan-Backed Stablecoin Dream Could Mean For Global Fintech

China Softens Stance: What A Yuan-Backed Stablecoin Dream Could Mean For Global Fintech

China may approve yuan-backed stablecoins, signaling a major policy shift that could challenge dollar dominance and reshape global fintech and payments.

China Considers Yuan-Backed Stablecoins To Boost Currency Usage: Report

China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally, sources familiar with the matter said, in a major reversal of its stance towards digital assets.

China eyes yuan-backed stablecoins to achieve global currency status, sources say

In a major reversal of its stance towards digital assets, China’s State Council plans to approve new yuan internationalisation plan later this month

China considering yuan-backed stablecoins to boost global currency usage

China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally, sources familiar with the matter said, in a major reversal of its stance towards digital assets. The State Council – China’s cabinet – will review and possibly approve a roadmap later this month for […] The post China considering yuan-backed stablecoins to boost global currency usage appeared first on OODAloop.

China Could Greenlight Yuan-Backed Stablecoins

Beijing is reportedly considering yuan-backed stablecoins and could approve usage later this month. This could potentially be a landmark move for the digital currency market. China’s State Council – the country’s cabinet that executes laws – will review and potentially approve the usage of yuan-backed stablecoins, according to a «Reuters» report citing unnamed sources. The move could happen as early as later this month, with Hong Kong and Shangh…