TechFlow, August 23 — The School of Business and Economics at the University of Hong Kong published an article titled "Offshore RMB Stablecoins: Opportunities and Challenges Coexist," stating that the development prospects of offshore RMB stablecoins are determined by three factors: usage demand, underlying asset supply, and policy and regulatory support. On the demand side, the primary application of RMB stablecoins in the future will focus on cross-border payments. Stablecoins can leverage their technological advantages—high payment efficiency, low costs, and convenient procedures—to serve the real economy. Data shows that in 2024, the total volume of RMB cross-border receipts and payments under current accounts reached 16 trillion yuan, eight times the combined market capitalization of the two major stablecoins USDT and USDC. In the medium to long term, this massive settlement volume is expected to gradually shift toward stablecoins.
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