🔥China's Crypto Offensive: The Beginning of the End of Dollar Dominance?

🇨🇳 China is considering a historic shift in its financial policy by evaluating the authorization of stablecoins backed by yuan. The goal is to strengthen the international presence of the yuan and reduce dependence on the dollar in global transactions.

📋 The State Council will review a roadmap that includes:

Increasing the use of the yuan in international markets.

Assigning responsibilities to national regulators.

Establishing measures to mitigate financial risks.

📉 Currently, the yuan accounts for only 2.88% of international payments, well below the 47.19% of the dollar. The #stablecoins could facilitate faster and cheaper cross-border transfers.

🏢 Companies like Ant Group and JD.com are already working on prototypes of stablecoins in yuan, aiming to position the Chinese currency in global trade.

$USDC $USD1 $USDP #BinanceSquare #Binance #Write2Earn #USDC✅