Wang Xin of the People’s Bank of China: Closely monitor the impact of stablecoins on the international monetary system and cross-border payments

TechFlow News, June 17: Wang Xin, Director of the Research Bureau (Counselor’s Office) of the People’s Bank of China, addressed cross-border payment systems at the “Plenary Session II: Global Financial Governance Reform and Cooperation” of the 2026 Lujiazui Forum. He stated that moving forward, it is essential to further ensure the security, neutrality, and efficiency of international payment systems; enhance interoperability among central bank payment systems and retail payment systems; prudently and steadily explore the potential of new payment instruments; closely monitor the impact of stablecoins on the international monetary system and cross-border payments; improve regulatory frameworks; and promote a more inclusive, efficient, and resilient international payment system—thereby better supporting sustainable development and global economic growth. (Jinshi)