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Deputy Dean of the Beijing Academy of Social Sciences: The digital RMB and Hong Kong compliant stablecoins, among other new types of payment tools, are reshaping a new paradigm for cross-border payments
BlockBeats News, January 6th. According to the Hong Kong Wen Wei Po, Fan Wenzhong, Vice President of the China Academy of Social Sciences and Executive Director of the China Finance Association, wrote an article titled "Promoting the Collaborative Innovation of Digital RMB and Hong Kong Stablecoins Steadily." In the article, he pointed out:
The new paradigm of cross-border payments is being reshaped through central bank digital currencies (CBDCs) represented by the Digital RMB (e-CNY) and new payment tools represented by Hong Kong-compliant stablecoins. Through the collaboration of the Digital RMB and Hong Kong stablecoins, the cross-border coverage of the Digital RMB can be rapidly expanded, increasing the RMB's stickiness in real trade and promoting the internationalization of the RMB;
Enhancing Hong Kong's status as an international financial center, creating the world's first hub for the integration of "CBDC + compliant stablecoins." The cross-border payment solution of the dual currency cooperation does not seek the complete unity of the underlying ledger of the Digital RMB and stablecoins. Instead, it achieves secure exchange and circulation at the value level through the establishment of regulated and standardized interactive interfaces between the two.
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