China’s Stablecoin Ambitions Spark Debate on Dollar Dominance

China is exploring the potential launch of a yuan-backed stablecoin, potentially disrupting international finance. This development comes as Beijing seeks to bolster the role of its currency in global markets, with initial rollout planned for Hong Kong and Shanghai. Cointelegraph spoke with experts Martin Chorzempa and Patrick Tan, analyzing China’s strategic shift into the stablecoin market.