
China’s tech giants push for yuan stablecoin to challenge USDT
JD.com and Ant Group are urging China’s central bank to approve a yuan-pegged stablecoin in Hong Kong to counter USDT’s dominance in global trade. JD.com and Ant Group are lobbying the People’s Bank of China to authorize a yuan-based stablecoin in Hong Kong, aiming to reduce reliance on US dollar-backed digital currencies. Both companies plan…