11:21 - 16.07.2025

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July 16, Fineko/abc.az. The government has assigned to the Chinese State-owned Assets Supervision & Administration Commission of the State Council (SASAC) to lead the project and appointed state-owned companies Guotai Haitong Securities and Shanghai Data Group responsible for development and launch of a trial version of stablecoins.

ABC.AZ informs that officials want to reduce the dependence of foreign trade operations on dollar-denominated stablecoins like USDT, which currently dominate the global market.

Previously, one of the leaders of Chinese e-commerce, service JD.com (NASDAQ:JD), announced plans to launch its own stablecoin, which will allow it to abandon the SWIFT system.