Ant Group Refutes Speculation on Rare Earth Stablecoin Project with PBOC

Ant Group has released a formal statement denying reports that it is collaborating with the People’s Bank of China (PBOC) to launch stablecoins backed by rare earth elements. These rumors have recently gained traction across financial media, sparking speculation about the Group’s involvement in the development of state-backed digital currencies. Ant Group clarified that it has not been involved in any such initiatives and that these reports are completely unfounded. This denial comes at a time when the digital currency sector is facing increasing regulatory scrutiny, making such rumors particularly sensitive. Ant Group has been subject to intensive regulatory oversight in recent years, leading to the suspension of its planned initial public offering. The company continues to explore emerging technologies, including blockchain, but does so within the full compliance of applicable regulations and laws.