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JD.com and Ant Group promote digital yuan stablecoin to challenge the dominance of the US dollar.

TapChiBitcoin

2025-07-03 03:26:58

LA3,48%

JD.com and Ant Group are lobbying the People’s Bank of China (PBOC) to approve a stablecoin backed by the yuan to counter the rise of dollar-linked tokens. These two companies propose allowing the offshore yuan-backed stablecoin to launch in Hong Kong, aimed at strengthening the role of the yuan in global trade.

In the context of the yuan’s share in global payments decreasing to 2.89%, executives from JD.com emphasized that a yuan stablecoin is necessary to promote international use. Hong Kong is also establishing regulations for stablecoins and will license issuers starting August 1. JD.com plans to apply for a stablecoin license in Hong Kong and Singapore to expand issuance in the future.

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