China Dey Probe Yuan Stablecoin Pilot wit SASAC and PBOC
China government agencies like Shanghai SASAC and China People Bank (PBOC) don start dey research how dem fit develop yuan stablecoin and run pilot tests. SASAC oga He Qing and PBOC Governor Pan Gongsheng talk say make dem explore digital currencies and blockchain payments to make cross-border settlement better. Big fintech companies like Ant Group and JD.com don ask PBOC to approve yuan stablecoin weh go fit shake US dollar pegged competitors. Advisor Huang Yiping and policy experts talk say make dem try pilot yuan stablecoin for Shanghai Pilot Free Trade Zone and Hong Kong to sabi how to handle capital controls and gather data. Even though regulation hard and supervision plenty, China careful move show say yuan stablecoin fit help renminbi become more international and make market liquidity grow.
Bullish
Di launch wey SASAC and PBOC dey do for yuan stablecoin research plus pilot programs no be small move as e show say dem dey strategize to make renminbi international and make blockchain payments beta. For short term, traders fit get neutral or small positive vibes as dem dey roll out guidelines and trials. For long term, if dem fit issue regulated yuan stablecoin, e fit increase liquidity, make stablecoin market dey diverse, plus increase demand for renminbi on-chain settlement, wey go make related trading pairs get bullish outlook.