Tether—with its sister company Bitfinex—may be in a heap of trouble in New York, but the stablecoin issuer is trying its hand at taking on another major currency: China’s yuan.
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Chinese central banker says digital yuan coming soon
The central bank-issued digital currency will not be on a traditional blockchain and will not disrupt the existing financial system, according to the People’s Bank of China official
The People’s Bank of China (PBOC) Deputy Director Mu Changchun said the bank’s “digital currency can now be said to be ready” at the China Finance 40 Forum in Yichun this weekend, according to Shanghai Securities News.
