Digital Yuan Will Have a Hard Time Displacing Tether in Asia

No Comments Spread the love Chinaࢀ™s central bank digital currency is usually identified as a way to challenge the dominance of the U.S. dollar, not Bitcoin (BTC). But it may struggle to find adoption in niches where crypto versions of the dollar thrive, primarily USDT. At the Unitize panel on Monday, Charles Yang from Genesis Block explained why the DCEP, commonly referred to as digital yuan, is not particularly attractive as a crypto replacement. Speculation and payments Yang identified two key drivers of crypto adoption, specifically in Asia. The first is speculation, noting that traders from countries like Korea and…