Circle CEO: China may issue yuan stablecoin

Circle's CEO anticipates a significant opportunity for a yuan-pegged stablecoin to emerge from China within the next three to five years. This move aligns with China's broader objective to increase the global prominence of its currency. Stablecoins, designed to maintain a stable value often pegged to fiat currencies, offer a mechanism for "exporting" a currency. The introduction of a Chinese stablecoin could reshape international finance, potentially challenging the dominance of existing reserve currencies and expanding the reach of the yuan in global markets.