New decentralized stablecoin in China targets international trade
Cointelegraph
Published Sep 23, 2021 08:57AM ET
Updated Sep 23, 2021 10:40AM ET
As financial authorities around the globe become increasingly concerned about stablecoin regulation, a jurisdiction in China is preparing to pilot a new yuan-pegged stablecoin for international trade.
Chris Banbury, head of global operations at permissionless blockchain project Conflux, told Cointelegraph on Sept. 21 that the firm will provide its technology to launch an offshore renminbi (RMB) stablecoin pegged to China’s central bank digital currency (CBDC), the digital yuan.
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Written By: Cointelegraph
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