China studies stablecoin tied to the yuan — a global revolution?
China considers stablecoin backed by yuan.
The State Council of China is evaluating the introduction of stablecoins tied to the yuan, aiming to internationalize its currency and compete with the dollar. The initiative will include regulation, implementation goals, and risk management, and could boost usage in global transactions, especially in cross-border trade.
Do you think this will strengthen the yuan internationally and challenge the dominance of the dollar?