{"id":35203,"date":"2025-07-04T11:31:55","date_gmt":"2025-07-04T11:31:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=35203"},"modified":"2025-07-04T11:31:55","modified_gmt":"2025-07-04T11:31:55","slug":"jd-com-ant-group-push-for-yuan-based-stablecoins-to-counter-dollar-rule-reuters","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=35203","title":{"rendered":"JD.com, Ant Group Push for Yuan-Based Stablecoins to Counter Dollar Rule: Reuters"},"content":{"rendered":"<div>\n<p>China\u2019s JD.com and Ant Group are pressing the central bank to permit yuan-based stablecoins to counter the rise of U.S. dollar-linked digital currencies, <a href=\"https:\/\/www.reuters.com\/world\/china\/chinas-tech-giants-lobby-offshore-yuan-stablecoin-sources-say-2025-07-03\/\">Reuters reported on Friday<\/a>.<\/p>\n<p>They propose launching stablecoins in Hong Kong backed by the offshore yuan, aiming to boost the Chinese currency&#8217;s global role. <\/p>\n<p>Both firms already plan to issue Hong Kong dollar-backed stablecoins <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/06\/26\/hong-kong-sets-out-plan-to-regulate-crypto-encourage-tokenization\">once local legislation begins August 1<\/a>. <\/p>\n<p>However, JD.com is advocating for offshore yuan stablecoins as a strategic move to support yuan internationalization. The push reflects China&#8217;s broader ambitions to challenge U.S. dominance in digital finance and expand the reach of its currency globally.<\/p>\n<p>China has a <a href=\"https:\/\/www.coindesk.com\/learn\/china-crypto-bans-a-complete-history\">long-standing ban on cryptocurrency transactions<\/a>, which extends to most private stablecoins. This ban, particularly intensified in 2021, was motivated by concerns over financial crime, capital flight, and potential threats to financial stability.<\/p>\n<p>As a counter, China poured resources into developing and piloting its own digital yuan (e-CNY). This central bank digital currency (CBDC) is seen as a way to modernize its payment system and exert greater control over its financial landscape.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/06\/12\/jack-mas-ant-international-seeks-stablecoin-licenses-in-hong-kong-singapore-bloomberg\">Jack Ma&#8217;s Ant International Seeks Stablecoin Licenses in Hong Kong, Singapore: Bloomberg<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>China\u2019s JD.com and Ant Group are pressing the central bank to permit yuan-based stablecoins to counter the rise of U.S. dollar-linked digital currencies, Reuters reported on Friday. They propose launching stablecoins in Hong Kong backed by the offshore yuan, aiming to boost the Chinese currency&#8217;s global role. Both firms already plan to issue Hong Kong [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-35203","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35203"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/35203\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}