The growing influence of stablecoins is beginning to reshape how some Chinese firms conduct cross-border settlements.
In this explainer, the Post outlines four roles that US dollar-backed stablecoins play in China’s overseas trade, based on a recent analysis by Zou Chuanwei, the president of the Jiangsu Jinke Research Institute on Digital and Technology Finance, published in Tsinghua Financial Review.
How are Chinese traders using US dollar-backed stablecoins?
First, some overseas importers face…
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