China Rare Earth Group Co has officially dismissed rumors surrounding a supposed collaboration to launch a 'rare earth yuan stablecoin' alongside Ant Group and the People's Bank of China (PBC). The company asserted that this narrative is entirely fabricated, misleading the public and posing a risk to financial order.

In its statement, China Rare Earth Group clarified it has not engaged in any partnerships or consultations regarding the so-called 'rare earth yuan stablecoin.' The group denounced the claim as malicious misinformation propagated by ill-intentioned individuals, encouraging the public and investors to remain skeptical of such information.

The company called on the public to be vigilant against illegal financial practices and to safeguard against potential risks that could lead to property losses. This advice underscores the importance of prudent financial awareness among investors in a volatile market.

Furthermore, China Rare Earth Group has reported the issue to law enforcement authorities, demanding that those behind the misleading claims cease any infringing or fraudulent activities. The group has expressed its intent to pursue legal action against any parties that undermine its reputation or interests.

The company reiterated that any significant partnerships or collaborations will be disclosed through official announcements, emphasizing the need for transparency in its operations.

In a related development, Ant Group also refuted similar claims circulating on social media regarding a partnership with the PBC and China Rare Earth Group to create a yuan-backed stablecoin driven by rare earth resources.

The tech giant took to its Weibo account to clarify that no such projects or plans are in place, cautioning the public against gullibility in the face of misleading information designed to attract investors into specific sectors.

As both China Rare Earth Group and Ant Group stress the importance of verifying information, their statements serve as a reminder of the ongoing risks associated with misinformation in the financial landscape.

The dissemination of such rumors not only poses reputational risks to companies but also threatens investor confidence in emerging financial technologies.

Overall, this incident highlights the critical role of regulatory oversight and the necessity for clear communication in maintaining the integrity of financial markets.