🚨 China Considers Yuan-Backed Stablecoins
Sources reveal China is exploring yuan-backed stablecoins to accelerate the yuan’s internationalization. The likely path is offshore issuance through Hong Kong, aligning with its new strict stablecoin regulations. Meanwhile, Beijing remains cautious, closely monitoring risks like capital flight and financial stability.
If approved, this would mark a major step in China’s digital finance strategy, potentially reshaping global markets and challenging the dominance of the dollar in cross-border settlements.