Alibaba Building Deposit Token as China Tightens Grip on Stablecoins

[nihalsari]

Alibaba’s cross-border commerce arm is working on a deposit-token system to streamline overseas payments, CNBC reports.
The blockchain-based token would represent claims on commercial bank deposits — similar to stablecoins but fully regulated.
This comes as Beijing pressures tech firms like Ant Group and JD.com to halt stablecoin-related plans.

[Abdul Khan]

Alibaba entering the token space proves that corporate China adapts quickly to new controls. ️

[Nahid Hossen]

If stablecoins are restricted, big companies will build alternatives — classic China strategy.