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Stablecoins linked to yuan proposed
Bangkok Post
|August 25, 2025
China is considering allowing the usage of yuan-backed stablecoins for the first time to promote wider adoption of its currency globally, sources familiar with the matter said, in a major reversal of its stance on digital assets.
The State Council will review a roadmap later this month for the greater usage of the currency globally, including catching up with a US push on stablecoins, said the sources.
The plan is expected to include targets for usage of the Chinese currency in the global markets and outline the responsibilities of domestic regulators, they said, adding that the roadmap will also include guidelines for risk prevention.
China's plan for the usage of stablecoins, if approved, would mark a major shift. The country banned cryptocurrency trading and mining in 2021 due to concerns about the stability of the financial system.
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