JD.com allegedly argued in closed-door discussions with the PBOC that offshore yuan stablecoins are urgently needed to promote yuan internationalization and cross-border commerce.

Quotes that support claims

Both companies already plan to issue Hong Kong dollar-backed stablecoins, but argue that offshore yuan tokens are urgently needed as strategic tools for cross-border commerce.

But in closed-door discussions with the People's Bank of China, JD.com has argued that offshore yuan stablecoins are urgently needed as a tool to promote yuan internationalisation, the sources told Reuters.