The Yuan Play

“There’s a tremendous opportunity for a yuan stablecoin,” Allaire said in an interview in Hong Kong. 

“If there’s currency competition, you want your currency to have the best features possible. This is becoming a technological competition,” he added.

Reuters reported last August that China was considering a yuan-backed stablecoin to boost adoption of its currency globally. 

Such a move would mark a major shift in China’s approach toward digital assets after the country banned cryptocurrency trading and mining in 2021.

The Iran War Bump

Circle recorded several billion dollars in USDC (CRYPTO: USDC) transaction growth following the outbreak of the U.S.-Iran war as…

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