China Eyes Yuan-Pegged Stablecoins for Global Trade

[kevin1]

Reports indicate that China may back yuan-pegged stablecoins to expand cross-border trade and challenge the U.S. for monetary influence.

The move comes after the U.S. passed the GENIUS Act in July, supporting dollar-pegged stablecoins to strengthen global financial dominance. Analysts suggest China’s entry could accelerate stablecoin adoption worldwide.

[Nahid10]

China backing yuan stablecoins sets up a direct challenge to U.S. dominance in digital finance.

[kelson10]

With the GENIUS Act boosting dollar stablecoins, global adoption could speed up into a real currency race.