CNBC AI News, August 11th – Ant Group, the fintech giant affiliated with Alibaba, issued a public clarification midday today, swatting down rumors circulating online.
The company stated:
Ant Group has become aware of online chatter claiming a joint venture with the People’s Bank of China (PBOC) and China Rare Earth Group to launch the “world’s first rare earth-backed RMB stablecoin.” This rumor is being used to entice investors into related sectors. Ant Group unequivocally denies any such planned collaboration. We urge the public to exercise caution and avoid falling prey to potential scams.
Notably, this isn’t the first time Ant Group has had to publicly refute rumors regarding stablecoins. The proliferation of misinformation highlights the intense interest and speculation surrounding digital assets in the Chinese market.
Back on June 20th, Ant Group’s digital technology arm, AntChain, also released a statement refuting claims of collaboration:
AntChain clarified that preliminary, exploratory discussions regarding Real World Assets (RWAs) had taken place with Hainan HuaTie, but no formal agreements, commercial arrangements, or concrete projects have materialized.
Furthermore, AntChain cautioned: “Recently, some entities have been leveraging trending concepts like ‘RWA’ and ‘stablecoin’ to hype up their prospects, falsely implying association with AntChain. We strongly advise investors and partners to critically evaluate market rumors and be aware of investment risks.”
AntChain reiterated its commitment to safeguarding its brand and intellectual property, reserving the right to pursue legal action against any unauthorized use of its name for misleading publicity.
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