Beijing’s digital currency ambitions are unlikely to unlock the full potential of the yuan’s internationalisation, analysts say.

The US dollar’s dominance in global markets could be enhanced by stablecoins, and China has a golden chance to make the yuan a more global currency, analysts say.

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While yuan-backed stablecoins could be "a good complement in cross-border transactions", the internationalisation of the yuan ultimately lies in reforms at home, according to the analysts.

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The currency value of the SDR is determined by summing the values in U.S. dollars, based on market exchange rates, of a basket of major currencies (the U.S. dollar, Euro, Japanese yen, pound sterling ...

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