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Circle CEO sees 'tremendous opportunity' for yuan-backed stablecoin
Circle Internet Group sees "tremendous opportunity" for yuan-backed stablecoin as digital money becomes increasingly integrated into global trade and finance, said the chief of the world's largest regulated stablecoin issuer. China wants to expand the yuan's role in the global financial system, and stablecoins have emerged as a way to "export" a currency by making it easier for global payments, Jeremy Allaire, co-founder and CEO of Circle, told Reuters. Stablecoins are a type of cryptocurrency designed to maintain a constant value and are usually pegged to a fiat currency such as the U.S. dollar. "There's a ... (full story)
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