{"content":"🇨🇳 Beijing Eyes Stablecoin Shift — Yuan-Pegged Tokens May Be Coming Soon A roadmap of those obligations and guardrails will be reviewed by the State Council later this month. Beijing told sources that Hong Kong and Shanghai will test new laws first, according to Reuters. Shanghai is developing a digital yuan international operating center after Hong Kong's stablecoin regulation took effect on August 1. Senior executives may conduct a research session at the end of the month to clarify stablecoin usage and boundaries, according to sources. People's Bank of China adviser Huang Yiping told local media that a Hong Kong offshore yuan stablecoin is “a possibility,” sources said. Global Market Size and Stakes The Bank for International Settlements reports that virtually all global stablecoins are US dollar-backed. The market is now $245 billion, and Standard Chartered expects it to reach $2 trillion by 2028. SWIFT said that the yuan's share of global payments fell to approximately 3% in June, while the US dollar still maintains 47%. President Donald Trump supports stablecoins and wants a regulated framework. Sources say stablecoin implementation information may be published in weeks. Sources said Beijing may discuss the issue with trade partners at the Shanghai Cooperation Organization Summit in Tianjin on Aug. 31–Sep. 1. China's stringent capital restrictions and massive trade surpluses hinder plans to utilize yuan stablecoins internationally, industry participants warn. The strategy should incorporate risk-prevention measures and delegate implementation obligations to local entities like the PBOC.","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025082025/08/21/9df53c610a944ecc8ff2f518a5a15276.png"],"tags":[],"tradingPairs":[],"quotearticleid":0}