China is reportedly weighing the introduction of yuan-backed stablecoins as part of a significant policy shift aimed at boosting the international use of its currency. This initiative comes in response to concerns over dollar-backed stablecoins and aims to challenge US dollar dominance in global finance. Sources indicate that Beijing is preparing to lift a long-standing crypto ban to facilitate these new digital assets, potentially reshaping the landscape of currency transactions and trade. The move could enable China to enhance the global adoption of the yuan and provide a competitive alternative to existing dollar-based financial instruments.