🚨 CMC News: China Eyes Yuan-Backed Stablecoins for Global Trade Push.🔗 https://t.co/dCTsFMm44t https://t.co/Et0MAWGXRJ ...

Regulatory Landscape - China may allow yuan-backed stablecoins for the first time [1] - A roadmap for yuan-backed stablecoins is under review [1] Geographic Focus - Hong Kong and Shanghai are leading the rollout of yuan-backed stablecoins [1] Use Cases - Use cases for yuan-backed stablecoins include cross-border trade and payments [1]

Economic Pressure - Economists and former officials in the US and Europe are advocating for China to appreciate the yuan [1] - Prolonged undervaluation of the yuan could intensify trade tensions [1] - Undervaluation may also distort China's economic growth model [1]

Chinese traders are pulling back from the dollar, helping ease a shortage that has rattled the banking system and setting the yuan up for further gains https://t.co/avrZ3na2FD ...