China Considers Yuan-Backed Stablecoin: Potential Impact on Global Fintech Landscape

China is exploring the launch of a yuan-backed stablecoin, marking a potential policy shift and significant changes in global financial dynamics. The initiative could impact USD stablecoin dominance, disrupt Asian market liquidity, and pave the way for renminbi international use. The move is currently under review by the Chinese State Council, with experts suggesting it could reshape global fintech interactions and digital asset trends. ]