In fact, Crypto HK, Hong Kong’s largest crypto OTC exchange, reports a five-fold growth in monthly USDT trading volume by Chinese clients for trade settlement since 2021, as Reuters reported.
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Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins
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Crypto HK, Hong Kong’s biggest crypto OTC exchange, saw a fivefold surge in USDT trading by Chinese clients since 2021, a trend that undermines the yuan’s use in trade.
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