China Weighs Yuan-Pegged Stablecoins as State Council Readies Roadmap for Wider Currency Use

China Wants Its Own Stablecoin — Should Tether and Circle Internet Worry?

Key Points The stablecoin market, worth $250 billion, is led by Tether’s USDT ($158 billion) and Circle Internet’s (CRCL) USDC ($62 billion), both tied to the U.S. dollar. China is exploring a yuan-backed stablecoin to challenge U.S. financial dominance and promote the renminbi globally. Hong Kong’s Web3 ambitions and China’s digital yuan could drive this initiative, but its success against USDT and USDC is uncertain. Nvidia made early inves…

China Considering Yuan-Backed Stablecoins to Boost Global Currency Usage, Sources Say

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 considering yuan-backed stablecoins to boost global currency usage, sources say

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 weighs yuan-backed stablecoins in push back against US dollar in global trade

China is said to be likely to discuss expanding the use of yuan and stablecoins for cross-border trade and payments at the upcoming SCO Summit.

China considering yuan-backed stablecoins to boost global currency usage in major policy reversal

Country’s cabinet will review and possibly approve a roadmap later this month for the greater usage

Stablecoin law holds promise for e-CNY, cross-border flows: Morgan Stanley

Hong Kong dollar stablecoins can help mainland China’s only legal digital currency better position itself globally.