China considering yuan-backed stablecoins to boost global currency usage, sources say

Reuters exclusively reported that China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally, in a major reversal of

its stance towards digital assets. The State Council – China’s cabinet – will review and possibly approve a roadmap later this month for the greater usage of the currency globally, including catching up with a U.S. push on stablecoins.