🔥 China Eyes Yuan-Pegged Stablecoin 🔥
According to Reuters, China is considering the launch of a yuan-pegged stablecoin aimed at boosting global trade and cross-border payments.
The proposal is expected to reach the State Council for review and potential approval in August 2025, signaling a major step in Beijing’s efforts to expand the yuan’s role in international finance.
At the same time, Chinese regulators remain cautious toward privately issued stablecoins. Authorities have recently tightened restrictions on domestic promotion and issued fresh warnings about scams tied to private issuers.
Stablecoins have become a powerful tool for countries looking to increase the global influence of their currencies. While the U.S. entered this race early, China appears determined not to remain on the sidelines.