Bitcoin24h $118,957.82-2.18%

Ethereum24h $4,647.86-1.65%

XRP24h $3.12-3.53%

BNB24h $851.34-0.84%

Solana24h $196.79-3.18%

Dogecoin24h $0.2312-4.42%

TRON24h $0.3590-1.73%

Cardano24h $0.9467-3.89%

Hyperliquid24h $48.99+5.63%

Chainlink24h $22.50-3.55%

China wants a yuan stablecoin, but why?

Reports claim that China wants to issue a yuan stablecoin, but it is not clear how that is compatible with its goals.

CHART: Stablecoins are growing fast since the GENIUS Act

Stablecoins have seen their market cap increase from $251B to approximately $268B since Donald Trump signed the GENIUS Act into law.

Maker DAO is incentivizing DAI holders to convert their stablecoins into the new, reward-yielding USDS, which has a remote freeze capability.

Two Fantom-supported stablecoins, FUSD and USDC.E, had an odd collateral repayment scheme that one user called a ‘forced liquidation.’

Real-world adoption of PayPal’s stablecoin PYUSD has been sluggish with just $45M in reserves reported so far.