Chinese blockchain to launch yuan-backed stablecoin
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最新报道：China's state-backed Blockchain Service Network (BSN) is launching a yuan-pegged stablecoin for international trade settlements, aiming to reduce reliance on the US dollar. The "Stable Yuan" will operate on public blockchains like Ethereum and Polygon, marking a significant shift as China has previously banned private stablecoins. The move aligns with China's broader digital currency strategy, including its central bank digital currency (CBDC) pilot program. BSN chairman He Yifan stated the stablecoin will facilitate cross-border transactions while complying with regulations. This development comes as China intensifies efforts to internationalize the yuan and promote blockchain adoption in global commerce.
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