JD.com and Ant Group propose launching yuan-based stablecoins in Hong Kong to promote yuan internationalization.

Date

July 4, 2025

Quotes that support claims

The two firms propose China allow the launch of stablecoins in Hong Kong pegged to its offshore yuan to help promote global use of the Chinese currency and fend off the dollar's growing digital influence, the two sources said.

They propose launching stablecoins in Hong Kong backed by the offshore yuan, aiming to boost the Chinese currency's global role

Tags

Week 27 of 2025