Beijing Explores A Chinese Stablecoin Solution To Counter Dollar’s Dominance

The world is witnessing the rise of the dollar-pegged stablecoin. However, China, for one, is not happy with its growing dominance in global finance. A Chinese stablecoin might be on the horizon as the country explores yuan-backed stablecoins, in a major pivot towards digital assets.

According to an article published by Reuters on August 21, 2025, the Chinese Council is exploring ways to internationalise the Yuan and is reportedly set to review a roadmap for the same later this month.

This plan includes the development of a Chinese stablecoin.

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