China's tech giants lobby for offshore yuan stablecoin, sources say
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 03 2025
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Source: Reuters
China's Tech Giants Push for Stablecoins: JD.com and Ant Group are lobbying the People's Bank of China to authorize yuan-based stablecoins in Hong Kong to enhance the international use of the yuan and counter the dominance of U.S. dollar-linked cryptocurrencies.
Regulatory Developments and Market Potential: The move reflects a shift in China's stance on cryptocurrencies, as it seeks to establish a regulatory framework for stablecoins amid growing competition with the U.S., with the global stablecoin market projected to grow significantly by 2028.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
