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China Explores Yuan-Backed Stablecoins Amid Global Digital Currency Push

Published

1 year ago

on

In a significant development that could reshape the international stablecoin landscape, reports indicate that China is considering approving yuan-backed stablecoins as early as this month. This move aligns with Beijing’s broader strategy to enhance its digital yuan ecosystem and maintain control over cross-border payments while countering the dominance of U.S. dollar-pegged stablecoins like USDT and USDC. The potential approval follows years of regulatory caution, where China has banned cryptocurrency trading but advanced its central bank digital currency (CBDC), the e-CNY.

This initiative could involve partnerships with select financial institutions to issue stablecoins pegged to the renminbi (RMB), ensuring they comply with stringent anti-money laundering (AML) and capital controls. Analysts suggest that yuan-backed stablecoins might facilitate smoother international trade, particularly within the Belt and Road Initiative countries, reducing reliance on the SWIFT system and mitigating U.S. sanctions risks. However, challenges remain, including interoperability with global blockchains and preventing capital outflows.

If implemented, this could accelerate stablecoin adoption in Asia, potentially pressuring other nations to accelerate their own CBDC projects. Market observers note that this news has already sparked mild optimism in Asian crypto markets, with tokens like TRX and VET seeing minor upticks. As the world watches, China’s foray into stablecoins underscores the blurring lines between traditional finance and blockchain technology, promising a more inclusive yet regulated digital economy.

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Bitcoin

Strategy (MicroStrategy) Adds 250 Bitcoin, Holdings Reach 848,250 BTC

Published

4 days ago

on

October 13, 2026

By

Strategy, Inc. (Nasdaq: MSTR), the company led by Executive Chairman Michael Saylor, acquired an additional 250 bitcoin for approximately $21.5 million between October 5 and October 11, 2026, at an average price of $86,194 per coin (including fees and expenses). The purchase brings the firm’s total holdings to 848,250 BTC.

The company funded the acquisition primarily through net proceeds of about $21 million from at-the-market sales of 125,183 shares of its Class A common stock (MSTR), with the remaining roughly $0.5 million drawn from its USD cash balance. No preferred stock was sold during the period. Strategy’s cumulative bitcoin investment now stands at roughly $64 billion, acquired at an average cost basis of approximately $75,444 per coin. At recent market prices, the holdings represent more than 4% of Bitcoin’s fixed 21 million supply cap and carry substantial unrealized gains.

In the same weekly update, Strategy reported repurchasing 1,932,145 shares of its STRC preferred stock (Variable Rate Series A Perpetual Stretch Preferred Stock) for an aggregate of about $192.4 million. The company maintains a large USD reserve—previously reported near $4.88–$5.5 billion—to support preferred stock dividends and interest payments on outstanding debt. Additional cash balances remain available for treasury activities, including further bitcoin purchases.

Saylor highlighted the latest acquisition on X with the familiar phrase “There’s always room for more orange,” continuing his long-running pattern of signaling accumulation. Strategy remains the largest publicly traded corporate holder of bitcoin. The move occurred against a backdrop of elevated volatility, with bitcoin trading in the roughly $81,000–$84,000 range around October 12 after earlier strength above $84,000.

The latest purchase marks continued, if more modest, weekly accumulation following larger buys in prior weeks. Strategy has paired ongoing bitcoin treasury expansion with active capital management, including preferred-stock repurchases, while relying on equity issuance and existing cash reserves to fund purchases.

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