Ant Group Denies Stablecoin Rumor: No Rare Earth RMB Token
Ant Group has officially denied a stablecoin rumor that claimed it would co-develop a rare earth-backed RMB stablecoin with the People’s Bank of China and China Rare Earth Group. In an August 11 statement, the company emphasised it has no plans for a commodity-backed token and urged investors to verify sources to avoid crypto scams and misinformation. This clarification comes amid China’s broader push for its e-CNY digital yuan. Unlike state-backed CBDCs, a private rare earth-backed stablecoin would face strict regulatory barriers. Traders should note this denial may curb speculative volatility around rare earth RMB stablecoin rumors and reinforce the need for due diligence. Focus remains on the regulated digital yuan.
Neutral
The denial of the Ant Group rare earth-backed RMB stablecoin rumor is likely to have a neutral impact on market prices. In the short term, removing false speculation could reduce volatility in related sectors. In the long term, this event reinforces China’s cautious regulatory stance on private stablecoins, redirecting attention to the e-CNY digital yuan. Traders should maintain due diligence and monitor official channels, as regulatory clarity often stabilises market expectations rather than triggering sharp price movements.