Circle CEO says China could launch a yuan-backed stablecoin within five years
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Promote with Leviathan NewsCircle CEO Jeremy Allaire told Reuters in a Hong Kong interview that he sees a "tremendous opportunity" for a yuan-backed stablecoin, predicting China could introduce one within three to five years. He framed stablecoins as a technological competition between currencies, suggesting they may offer a better path than the eCNY CBDC for globalizing the yuan in international trade. Allaire also flagged opportunities working with Hong Kong dollar stablecoins for global platform integration.
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