The post China’s Big Tech Wants Yuan Stablecoin to Break USDT’s Lead appeared first on Coinpedia Fintech News
Two of China’s biggest tech firms, JD.com and Alibaba’s Ant Group, are urging the country’s central bank to allow a yuan-based stablecoin to launch in Hong Kong, sources told Reuters. The goal? Push back against the rising dominance of U.S. dollar stablecoins like USDT and bring the Chinese yuan into the digital payments race. Things …