Asia Morning Briefing: China’s Car, America’s Currency — Why Stablecoins Keep the Dollar in the Driver’s Seat

Good Morning, Asia. Here's what's making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.

On the streets of Bolivia, an advertisement for a bright green BYD Dolphin Mini is plastered across a billboard.

The irony is hard to miss: a Chinese electric vehicle, the symbol of Beijing’s export strength in the world's emerging markets, is moving off lots in a BRICS country, but it is paid for in USDT – which is backed by the very treasuries China is dumping.

China has spent years pushing de-dollarization in Latin America, framing it as South–South solidarity and economic independence from Washington. Bolivia now s