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China Quietly Preps Yuan Stablecoins as 99% of Supply Minted in Dollars
China Quietly Preps Yuan Stablecoins as 99% of Supply Minted in Dollars
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China's stealth move to dominate the stablecoin arena—while dollar-pegged tokens still control 99% of the market.
Yuan-backed digital assets enter the ring
Beijing isn't just watching from the sidelines. State-backed developers are building yuan-pegged stablecoins, aiming to slice into the dollar's overwhelming dominance. No official announcements—just code, wallets, and quiet testing.
Why it matters
Stablecoins are the bloodstream of crypto trading. Control the stablecoin, influence the flow. With 99% of all stablecoins tied to the greenback, this is China's play for monetary leverage without the political theatrics.
Finance won't know what hit it—though let's be real, most bankers still think 'blockchain' is a new type of bike lock.
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