币界网报道：China's digital yuan (e-CNY) is gaining traction as a potential challenger to U.S. dollar-backed stablecoins in the $2 trillion market, with its adoption growing domestically through government initiatives. While USD-pegged stablecoins like USDT and USDC dominate cross-border transactions, China is pushing e-CNY for international trade settlements, particularly in Belt and Road countries. The PBOC reports e-CNY transactions hit $250 billion by June 2023, though global adoption faces hurdles due to capital controls and geopolitical tensions. Analysts suggest China's strategy focuses on regional influence rather than directly displacing the dollar, while the U.S. maintains stablecoin dominance through private sector innovation and regulatory clarity.