Beijing is being urged to accelerate the development and deployment of yuan-backed stablecoins amid growing global interest in digital currencies. As major economies and financial institutions push forward with their own central bank digital currencies (CBDCs) and crypto innovations, experts and industry insiders stress that China cannot afford to lag behind in this rapidly evolving landscape. The South China Morning Post reports that timely adoption of yuan-backed stablecoins is seen as crucial for maintaining China’s financial influence and supporting its ambitions in the digital economy.
China Urged to Accelerate Development of Yuan-Backed Stablecoins Amid Digital Currency Race
Industry experts and financial analysts have voiced strong calls for Beijing to expedite the launch and widespread adoption of yuan-backed stablecoins. In the face of intensifying competition from global digital currencies and stablecoin projects, China’s strategic priority has shifted towards…
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Author : Miles Cooper
Publish date : 2025-06-23 14:49:00
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