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Ant Group has denied rumors of collaborating with the People’s Bank of China to launch a rare earth-backed RMB stablecoin. The denial comes as Chinese firms explore stablecoin uses, particularly in Hong Kong’s regulated environment.
- Ant Group denies rumors of a rare earth-backed RMB stablecoin, warning against misleading reports.
- Chinese e-commerce firms are exploring stablecoins under Hong Kong’s regulatory regime for international transactions.
- JD.com plans to seek stablecoin licenses to streamline cross-border payments, starting with B2B transactions.
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