🔥 China Explores Yuan-Pegged Stablecoin
China is reportedly considering the launch of a stablecoin pegged to the yuan, aiming to enhance global trade and simplify cross-border payments, according to Reuters.
The State Council is expected to review and potentially approve the plan in August 2025, as part of broader efforts to increase the international adoption of the yuan.
Despite this, Chinese authorities remain cautious about privately issued stablecoins. Recent measures include tighter restrictions on domestic promotion and warnings about scams linked to private issuers.
Stablecoins have become a key instrument for countries looking to expand the reach of their national currencies. With the U.S. already active in this space, China is determined not to fall behind.
