Li Yang, Chairman of the National Finance and Development Laboratory: Further, it may be considered to approve the issuance of onshore RMB stablecoins by several state-owned banks.

According to Foresight News, according to the official account of Shenzhen Xiangmihu International Financial Technology Research Institute, Li Yang, chairman of the National Finance and Development Laboratory, said that the integration development trend of stablecoins, cryptocurrencies and traditional financial systems is difficult to reverse. Stablecoins and cryptocurrencies will achieve complementary development with the central bank's digital currency, comprehensively improve payment efficiency and reduce payment costs, reconstruct the global payment system, and drive the development of decentralized finance (DeFi) and digitalization (RWA) of assets.

On the shore, it is to clarify the relationship between digital RMB, Alipay, WeChat payment, etc. and the traditional payment system. Furthermore, it is possible to consider approving the issuance of RMB stablecoins by several state-owned banks. my country has decided to set up a "Digital RMB International Operation Center" in Shanghai, and it is recommended to conduct experiments on RMB stablecoins based on this. Offshore is relatively complex. Since the Hong Kong dollar implements a linked exchange rate system against the US dollar, offshore stablecoins based on the Hong Kong dollar are essentially closer to the US dollar stablecoin. This situation has both disadvantages and favorable aspects. In fact, there is huge room for operation. Proper use of this space may form a channel to "open up" the connection between the US dollar stablecoin and the RMB stablecoin, thereby making new contributions to the internationalization of the RMB.

Disclaimer: The views in this article only represent the author's personal views and do not constitute investment advice of this platform. This platform does not make any guarantees for the accuracy, completeness, originality and timeliness of article information, nor is it liable for any losses caused by the use or trust in article information.