Ant Group officially denies any collaboration with the PBoC on a rare earth-backed RMB stablecoin, cautioning investors amid growing international stablecoin interest.
Ant Group released a press statement denying rumors of a partnership with the People's Bank of China to launch a rare earth-backed RMB stablecoin. The statement clarified that no such plans exist and warned the public against misleading information. It also highlighted the company’s ongoing blockchain initiatives, including potential integration of Circle’s USDC stablecoin and exploration of Hong Kong dollar-backed options, against a backdrop of rising global stablecoin regulatory interest.