"Allaire emphasized that stablecoins have become a mechanism for countries to extend their currencies into global trade and payments, placing China directly in that conversation. He stated, 'There's a tremendous opportunity for a yuan stablecoin.'"
"Allaire predicted that China could roll out a yuan-backed digital token within the next three to five years, highlighting the technological competition in currency features."
"USDC, the world's second-largest stablecoin, grew 72% year-on-year to $75.3 billion in circulation by the end of 2025, largely due to increased demand for portable dollars amid geopolitical tensions."
Circle CEO Jeremy Allaire stated that a yuan-backed stablecoin could be launched by China within three to five years. He emphasized the importance of stablecoins in extending currencies into global trade and payments. USDC, Circle's stablecoin, grew 72% year-on-year to $75.3 billion by the end of 2025, driven by demand during the U.S.-Iran war. Hong Kong has issued stablecoin licenses, positioning itself as a potential launchpad for CNY tokens, indicating a shift in China's currency strategy.
Read at news.bitcoin.com
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