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by: xpoolPosted on: August 20, 2025

China Plots Yuan-Backed Stablecoin to Counter Dollar Dominance

China is exploring a yuan-backed stablecoin for the first time, signaling a significant shift in its digital asset strategy. The move aims to boost the yuan’s global influence as U.S. dollar-linked stablecoins currently dominate cross-border trade. Sources say Hong Kong and Shanghai will likely be used as testing grounds for this project.

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