The pitch is global scale for the yuan, but capital controls, offshore limits and convertibility gaps still stand in the way Circle CEO Jeremy Allaire said he sees a "tremendous opportunity" for a yuan-backed stablecoin and predicted China could launch one within three to five years. The idea has shifted from speculation to potential policy, as Chinese officials have reportedly explored a yuan stablecoin despite the country’s ban on crypto trading and mining since 2021. Analysts say a true yuan…
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