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Paypal has launched a new platform aimed at connecting various payment systems with its digital wallets, allowing users to shop internationally without conversion fees or delays. Expanding Global Reach Fintech giant Paypal has collaborated with global payment leaders to introduce Paypal World, a new platform designed to connect popular payment systems with its digital wallets. … Read more
Conflux, a Chinese blockchain platform, has announced the launch of a new offshore yuan-backed stablecoin during its Conflux 3.0 network upgrade event in Shanghai. This stablecoin, pegged 1:1 to the offshore Chinese yuan, aims to facilitate cross-border payments, particularly for countries involved in China’s Belt and Road Initiative. Conflux has partnered with fintech firm Anchorx … Read more
According to data released by the U.S. Treasury, China has sold off more of its U.S. Treasury holdings, bringing its current total to $756.3 billion, the lowest level since March 2009. While some may not consider this significant, it marks the third consecutive month of declines, signaling a new trend amid ongoing trade war concerns. … Read more
China Merchants Bank’s CMB International Securities has reportedly become the first mainland China-affiliated brokerage to secure a virtual asset licence from Hong Kong’s Securities and Futures Commission. This approval enables CMBI to legally offer cryptocurrency trading, custodial support, and digital asset advisory services within Hong Kong’s tightly regulated framework. Authorities reaffirmed their commitment to becoming … Read more
Chinese fintech giant Ant Group is reportedly partnering with Circle Internet Group to integrate its USDC stablecoin into Ant’s blockchain platform. A Strategic Move Amid China’s Stablecoin Push Chinese fintech firm Ant Group is reportedly collaborating with global digital asset platform Circle Internet Group to incorporate its USDC stablecoin onto the Jack Ma–backed company’s blockchain … Read more
A Chinese task force has issued a warning to Shenzhen residents about fraudulent investment schemes targeting stablecoins. Growing Stablecoin Popularity A Chinese task force created to combat illicit financial activities has warned Shenzhen residents to be wary of fraudulent investment projects preying on the public’s limited understanding of stablecoins. In an alert issued July 7, … Read more
Chinese tech giants are urging the central bank to grant them permission to issue yuan-backed stablecoins in a bid to challenge the growing dominance of dollar-based stablecoins. Countering Dollarization of the Digital Economy Chinese tech giants JD.com and Ant Group are reportedly urging the central bank to permit them to issue yuan-backed stablecoins to counter … Read more
Chinese authorities are ramping up efforts to enhance the international status of the yuan and reduce reliance on the U.S. dollar, particularly as confidence in the dollar wanes. Dollar Decline Aids Yuan China is intensifying efforts to elevate the yuan’s international standing and challenge the U.S. dollar’s global dominance, seizing an opportune moment as international … Read more
According to analysts, one alternative for China to combat the impending stablecoin-based dollarization and its unintended consequences is the issuance of a yuan stablecoin. This token could originate in Hong Kong, which has already enacted regulations for such instruments. Analysts: China Has the Option to Fight Dollarization With Yuan Stablecoin The U.S. government’s push for … Read more
China reduced its position on U.S. debt in April, reaching a 16-year record low in its holdings. The reduction is related to the ongoing tariff war scenario, where tensions between the two countries have escalated due to the enactment of sky-high fees. China Reduced U.S. Debt Exposure in April, Reached 16-Year Record Low Numbers emanating … Read more
