China-backed Blockchain Project Proposes SWIFT Alternative for Stablecoins and CBDCs

// The company developing China’s blockchain network wants to create a system for international settlements with stablecoins and state-issued digital currencies. The plan is to establish a platform facilitating the use of these two fiat-based digital assets in foreign trade.

Hong Kong-based Red Date Technology, the designer of China’s state-backed Blockchain-based Service Network (BSN), has launched a new project to implement both stablecoins and central bank digital currencies (CBDCs) in cross-border payments //


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