Alibaba Group-backed (HKG:9988, HKG:89988) Ant Group denied claims that it was partnering with China Rare Earth (HKG:0769) to launch a rare earth-backed yuan stablecoin, according to media reports Monday.
"Ant Group has never had such plans with relevant institutions. The public is advised to pay attention and beware of being deceived," the firm said in a Weibo post Sunday.
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