JD.com and Ant Group are pressuring the People’s Bank of China (PBOC) to allow yuan-based stablecoins.

Date

July 4, 2025

Quotes that support claims

Chinese tech giants JD[dot]com and Alibaba affiliate Ant Group are pressuring the People’s Bank of China to authorize yuan-based stablecoins.

China's tech giants JD.com and Alibaba affiliate Ant Group are urging the central bank to authorise yuan-based stablecoins to counter the growing sway of U.S. dollar-linked cryptocurrencies, people with direct knowledge of the discussions said.

Tags

Week 27 of 2025