Agricultural Bank of China: No plans to develop stablecoins

Odaily News Agricultural Bank of China responded to investors questions about capital injection, stock repurchase and stablecoin development on the interactive platform. In response to the markets concern about the development of stablecoins and cryptocurrencies, Agricultural Bank of China clearly stated that the regulatory authorities will implement this round of capital injection by state-owned banks in an orderly manner in accordance with the idea of comprehensive promotion, phased and batched, and one policy for each bank. Our bank will promote related work in accordance with the unified arrangement. For the latest development trends of global stablecoins and cryptocurrencies, our bank will follow up and study them. At present, there is no plan to develop stablecoins. (Jinshi)