News with the tag "Ant Group"

Shanghai is exploring the development of a yuan-backed stablecoin to challenge the dominance of U.S. dollar-linked stablecoins in the global digital finance and trade sectors, supported by Chinese tech giants and government initiatives.

Ant Group is reportedly planning to support Circle’s USDC stablecoin on its blockchain platform, which could signify a major shift in China’s digital economy and fintech landscape.

Ant Group's international arm plans to integrate Circle's USDC stablecoin into its proprietary blockchain, pending U.S. regulatory approval, to expand its digital currency offerings.

JD.com and Ant Group are advocating for yuan-based stablecoins in Hong Kong to reduce reliance on U.S. dollar-linked digital currencies and promote the yuan's global role.