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JD-SW, Ant Group Lobbying PBOC to Authorize Issuance of Offshore RMB Stablecoin: Report
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JD-SW (09618.HK) and BABA-W's (09988.HK) (BABA.US) affiliate Ant Group are lobbying the People's Bank of China (PBOC) to authorize the issuance of a stablecoin based on the RMB to counter the growing influence of USD-pegged cryptocurrencies, Reuters reported, citing sources. According to the report, the two companies are proposing that China should allow the launch of an offshore RMB-pegged stablecoin in Hong Kong to promote the global use of the RMB and resist the growing influence of the USD in the digital currency space. It is rumored that JD.com advocated in closed-door discussions with the PBOC the urgent need to launch an offshore RMB stablecoin as a tool to promote the internationalization of the RMB. AAStocks Financial News |
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