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JD-SW, Ant Group Lobbying PBOC to Authorize Issuance of Offshore RMB Stablecoin: Report
JD-SW (09618.HK) and BABA-W's (09988.HK) (BABA.US) affiliate Ant Group are lobbying the People's Bank of China (PBOC) to authorize the issuance of a stablecoin based on the...
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JD-SW, Ant Group Lobbying PBOC to Authorize Issuance of Offshore RMB Stablecoin: Report
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JD-SW (09618.HK)  -1.100 (-0.878%)    Short selling $228.58M; Ratio 10.465%   and BABA-W's (09988.HK)  -1.100 (-1.036%)    Short selling $1.26B; Ratio 11.309%   (BABA.US)      affiliate Ant Group are lobbying the People's Bank of China (PBOC) to authorize the issuance of a stablecoin based on the RMB to counter the growing influence of USD-pegged cryptocurrencies, Reuters reported, citing sources.

According to the report, the two companies are proposing that China should allow the launch of an offshore RMB-pegged stablecoin in Hong Kong to promote the global use of the RMB and resist the growing influence of the USD in the digital currency space.

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It is rumored that JD.com advocated in closed-door discussions with the PBOC the urgent need to launch an offshore RMB stablecoin as a tool to promote the internationalization of the RMB.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-04 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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