As calls grow for Beijing to embrace digital currencies, e-payment giants seen as aiding yuan’s global push.
China already has de facto stablecoins in the form of WeChat Pay and Alipay, a top economist at the country’s leading investment bank has argued – amid growing calls for Beijing to quickly adapt to the global rise of digital assets.
“From an economic perspective, money based on third-party payment platforms functions much like stablecoins – and China holds a comparative advantage in this area, having already built a relatively mature regulatory framework,” said Peng Wensheng, chief economist at China International Capital Corporation, in a research note published on Friday.
