Allegations against Ant Group's "Collaboration on Rare Earth-CNY Stablecoin" Debunked: Be Vigilant and Avoid Being Deceived
Tech news from Phoenix News, August 11. Ant Group issued a statement denying the rumors of "collaborating with the People's Bank of China and China Rare Earth Group to launch the world's first rare earth-CNY stablecoin." Ant Group explicitly stated that it has never had such plans with relevant institutions and reminded the public to be vigilant in distinguishing information and avoid being deceived.
![Allegations against Ant Group\'s \](https://fs-cms.hexun.com/img/2025-08-11/220833478.jpg "Allegations against Ant Group\'s \")
As blockchain and distributed ledger technologies develop, stablecoins have gained attention globally. The Hong Kong Legislative Council passed the "Stablecoin Ordinance" in May this year.
The ordinance established a regulatory framework for virtual asset activities in Hong Kong by issuing licenses to stablecoin issuers and promoting financial innovation while maintaining financial stability. The "Stablecoin Ordinance" officially came into effect on August 1st.