According to Reuters, over 99% of the $247 billion global stablecoin market remains U.S. dollar-denominated.
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Chinese Tech Giants Alibaba and JD.com Urge Central Bank Approval for Yuan-Based Stablecoins
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JD.com and Ant Group are promoting yuan-based stablecoins in response to a $247 billion global stablecoin market where over 99% of tokens are U.S. dollar-denominated, according to the Bank for International Settlements.
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