CICC’s July 15 report analyzes stablecoin adoption in China, highlighting their limited effect on domestic platforms like WeChat Pay. However, it underscores stablecoins’ growing relevance in cross-border payment scenarios, encouraging the integration of a yuan-pegged stablecoin market.
Key voices in the report advocate for regulatory reforms and advancements in technology to foster stablecoin growth, further emphasizing the necessity for China to regulate stablecoins actively to enhance the international use of the yuan.
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