China Tech Giants Push for Yuan Stablecoin to Challenge USDT Dominance
July 3, 2025
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JD.com and Ant Group are urging China’s central bank to approve a yuan-pegged stablecoin in Hong Kong, aiming to counter Tether’s USDT dominance in global trade. This strategic move comes as Hong Kong prepares to implement its Stablecoin Ordinance on August 1, 2025, creating Asia’s first regulated framework for digital
