Bit360
08/22 19:51
Beijing’s consideration of a yuan-backed stablecoin could mark a new front in the global financial system, but experts say dollar dominance, liquidity and trust are high hurdles.
China appears to be weighing the launch of a yuan-backed stablecoin, with an initial rollout in Hong Kong and Shanghai, a surprising shift after years of cracking down on crypto while promoting its central bank digital currency, the digital yuan.
In the latest episode of Byte-Sized Insight, Cointelegraph spoke with two leaders analyzing China’s potential move into stablecoins: Martin Chorzempa, senior fellow at the Peterson Institute for International Economics, and Patrick Tan, CEO of blockchain intelligence firm ChainArgos.
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