China is reportedly considering allowing the use of Original-Supported Stubcoins for the first time.
The former Stablecoin roadmap is scheduled to be discussed at the Shanghai Cooperation Organization (SCO) Summit later this month. At the summit, China will promote the broader use of currency in trading settlements.
China is considering yuan support stubcoin
According to Reuters, the State Council will review the roadmap later this month to expand its former internationalization, including stubcoin pilots in Hong Kong and Shanghai.
If approved, the plan will establish regulatory guidelines, risk management, and usage targets to counter the overwhelming advantage of US dollar page tokens.
China’s move comes as Washington competes for stubcoin restrictions under President Trump, seen in his genius. Dollar Support Coins solidifies their role in crypto transactions and cross-border payments.
Stablecoins are digital tokens designed to maintain a constant value that is normally fixed in Fiat currency.
According to the International Bank for Reconciliation, the global market is currently around $276 billion, with over 99% pinned in US dollars.
Hong Kong and Shanghai spotlights
In Hong Kong, implementation will be quickly tracked in Hong Kong, which launched the much-anticipated Stablecoin ordinance on August 1st, and in Shanghai, which is building an international hub for digital euan operations.
Both cities are expected to play a key role in deploying formerly religious stubcoins offshore.
Analysts see the initiative as part of a broader push to counter Beijing’s US financial hegemony. Chinese exporters are already using dollar stables on a large scale. This tendency to highlight the limited scope of Yuan’s global payments
If adopted, the decision marks the biggest reversal since Beijing’s 2021 ban on crypto trading and mining. While capital management remains a structural hurdle, former support stubcoin can give China new leverage in global finance, especially in Asia, where Japan and South Korea are moving forward with Fiat-backed token pilots.
Details are expected as Chinese policymakers finalize consultations.
China first appeared in Beincrypto as Beijing contemplates his spirits and Beijing plays with us.
