Ripple’s RLUSD Gains Traction as China Eyes Stablecoin Revolution

TLDR China’s National Petroleum Corporation is exploring stablecoins for cross-border payments through its state-backed enterprises. PetroChina is monitoring Hong Kong’s stablecoin regulatory framework for potential use in international settlements. A stablecoin exchange system in Shenzhen has processed over 100,000 transactions daily, facilitating Hong Kong dollar and digital yuan swaps. China is considering the introduction of [...]

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