China's tech giants lobby for offshore yuan stablecoin, sources say
SummaryCompaniesChinese tech giants have applied for stablecoin licencesSources say Chinese policymakers receptive to idea of yuan stablecoinExporters using Tether, undermining yuan in trade settlementJuly 3 (Reuters) - China's tech giants JD.com and Alibaba affiliate Ant Group are urging the central bank to authorise yuan-based stablecoins to counter the growing sway of U.S. dollar-linked cryptocurrencies, people with direct knowledge of the discussions said.The two firms propose China allow th...
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