📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
JD.com and Ant Group propose a yuan stablecoin to counter USDT
JD.com and Ant Group are urging the People's Bank of China to allow the issuance of a yuan-pegged stablecoin in Hong Kong, in order to counter the dominance of USD stablecoins like USDT.
Two companies have planned to launch the HKD stablecoin after August 1, but believe that a CNH stablecoin is needed to promote the internationalization of the renminbi and reduce dependence on USD.
Currently, over 99% of global stablecoins are pegged to USD. The trading of USDT for commerce in China has increased fivefold since 2021. Export businesses are increasingly turning to USD stablecoins due to concerns over capital controls and exchange rate volatility.