Vice President of Beijing Academy of Social Sciences: Digital RMB and new payment tools such as Hong Kong compliant stablecoins are reshaping a new paradigm for cross-border payments.

CoinVoice has learned that according to a report in the Hong Kong Wen Wei Po, Fan Wenzhong, Vice President of the Chinese Academy of Social Sciences and Executive Director of the Chinese Financial Association, authored an article titled “Steadily Promoting the Collaborative Innovation of Digital RMB and Hong Kong Stablecoins,” which points out: Central bank digital currencies (CBDC), represented by Digital RMB (e-CNY), and new payment tools represented by compliant stablecoins in Hong Kong are reshaping the new paradigm of cross-border payments through different pathways. Through the collaboration of Digital RMB and Hong Kong stablecoins, the cross-border coverage of Digital RMB can be rapidly expanded, the usage stickiness of RMB in real trade can be increased, and the internationalization of RMB can be promoted; the status of Hong Kong as an international financial center can be strengthened, creating the world’s first integrated hub of “CBDC + compliant stablecoins.” The cross-border payment solution with dual currencies does not pursue complete unification of the underlying ledgers of Digital RMB and stablecoins but instead establishes regulated, standardized interactive interfaces to enable secure exchange and circulation of value between the two.