<ul data-eligibleForWebStory="false"><li>Chinese tech giants like JD.com and Ant Group are pushing for approval to launch an offshore yuan stablecoin to enhance the currency's global presence.</li><li>They aim to issue Hong Kong dollar stablecoins to address the dominance of US dollar stablecoins in global transactions.</li><li>China's efforts to internationalize the yuan face challenges due to capital restrictions and the 2021 crypto ban, with the yuan's global payment share dropping.</li><li>The firms see an opportunity in Hong Kong's evolving crypto regulations to launch digital yuan products internationally and compete in the digital trade landscape.</li></ul>

Chinese Tech Giants Urge Approval for Offshore Yuan Stablecoin

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