Circle CEO Allaire sees ‘tremendous opportunity’ for yuan stablecoin: report
The Block
Circle CEO Jeremy Allaire believes a yuan-backed stablecoin could help internationalize China's currency amid growing global technological competition.Summary
Circle CEO Jeremy Allaire suggests that a Chinese yuan-backed stablecoin represents a significant opportunity for China to increase the global competitiveness of its currency. Allaire notes that stablecoins are evolving into a form of technological competition between nations, potentially aiding China's long-term internationalization goals. While tech giants like Ant Group and JD have expressed interest, Chinese regulators remain cautious, recently mandating that offshore issuance of such assets requires official approval. Meanwhile, Hong Kong has begun issuing its first stablecoin licenses to firms like HSBC and Anchorpoint Financial.
(Source：The Block)