Agricultural Bank: No plans to develop a stablecoin at the moment

BlockBeats News, July 3rd: China Agricultural Bank responded to investors' questions on capital injection, stock buyback, and stablecoin development on its interactive platform. Regarding the market's attention to stablecoins and cryptocurrency development, the Agricultural Bank clearly stated that regulatory authorities will orderly implement this round of capital injection for large state-owned banks in accordance with the principles of "overall planning, phased implementation, and tailored measures for each bank," and our bank will advance related work in accordance with a unified arrangement.

Regarding the latest development trends of global stablecoins and cryptocurrencies, our bank will follow up with research and currently has no plans to develop a stablecoin. (Jinse)