China’s Yuan-Backed Stablecoins: A Play for Global Supremacy?
Sources-those anonymous yet ever-helpful figures-have disclosed that China’s State Council is preparing to give a rather approving nod to a new plan for the internationalisation of the yuan. This plan, my dear reader, could very well lead to the birth of stablecoins backed by China’s own currency, all in a bid to dethrone the reigning king, the mighty U.S. dollar, from its global throne of dominance.



