<ul data-eligibleForWebStory="false"><li>Chinese tech giants JD.com and Ant Group are advocating for the approval of a yuan-backed stablecoin in Hong Kong to compete against USD-based stablecoins like USDT.</li><li>The goal is to bolster the global presence of the yuan and counter the increasing dominance of USDT in cross-border transactions.</li><li>Delays in launching the yuan stablecoin could result in China falling behind in the fast-expanding digital currency and programmable money sectors.</li><li>The article is eligible for web story generation as it discusses a significant development in the cryptocurrency and digital finance realms, involving key players and potential impact on the market.</li></ul>

China’s Tech Giants Push for Yuan Stablecoin in Hong Kong to Challenge USDT

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