News
The latest announcement from the People's Bank of China follows months of flip-flopping on privately issued yuan-pegged stablecoins.
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Yuan News
The yuan is the primary unit of the renminbi – the official name of the Chinese currency. Chinese currency itself is also often referred to as yuan. The term “Chinese yuan” is mostly used to refer to renminbi by international finance institutions. Yuan is issued by the People’s Bank of China, which has total control over the currency. Yuan is currently one of the most traded currencies due to internationalization of Chinese businesses and the expansion of Chinese exports. Chinese yuan circulates in Thailand, Pakistan, Mongolia and some other Asian countries. As the Chinese economy grows, the yuan gathers more and more influence on international markets. The price of the yuan had a crucial impact on the cryptocurrency industry as most exchanges were Bitcoin to yuan interactions, operated through China-based crypto exchanges. However, due to the large number of regulations, the Chinese yuan lost most of this impact on Bitcoin after 2017.
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In 2024, the Bank for International Settlements stepped back from mBridge, seeking to distance itself from sanctions-related speculation surrounding the platform.
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China’s central bank will let banks pay interest on digital yuan wallets from Jan. 1, 2026, reshaping e-CNY as deposit-like money as the US bans CBDCs.
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The bond was auctioned off to holders of the digital yuan, a central bank digital currency (CBDC) developed by the Chinese government.
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A Taiwan-issued stablecoin pegged to either the country’s dollar or the US dollar may enter the market in the second half of 2026.
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China launched a digital yuan operations center in Shanghai focused on cross-border payments, blockchain services and digital-asset platforms.
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Governments around the world are exploring and launching stablecoins to remain competitive against dollar-pegged digital fiat tokens.
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The forecast, which was published on Thursday, came amid renewed interest in stablecoins from several governments around the world.
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China’s split renminbi system suggests a rumored yuan stablecoin won’t mark a crypto shift.
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China’s cabinet will review a roadmap that includes yuan-pegged stablecoins to bolster yuan internationalization, sources told Reuters.
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JD.com and Ant Group are reportedly lobbying Chinese regulators to launch yuan-based stablecoins to boost the currency’s global role and counter US dollar-pegged tokens.
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Bitcoin may punish bulls if China raises the stakes in the ongoing trade war with the US, warns QCP Capital, as markets await a response to tariff hikes.
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Bitcoin price shows strength despite persistent weakness in global stock markets. Will altcoins follow?
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A weaker yuan could mean a lot of Chinese capital flow into Bitcoin, according to Bybit’s Ben Zhou.
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No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now.
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