JD.com is one of China’s leading tech giants.

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Chinese tech giants JD.com and Ant Group are reportedly urging the central bank to permit them to issue yuan-backed stablecoins to counter the dominance of dollar stablecoins.

China’s JD.com and Ant Group are pressing the central bank to permit yuan-based stablecoins to counter the rise of U.S. dollar-linked digital currencies, Reuters reported on Friday.