TechFlow, September 13 — According to Caixin Network, speaking at the "Vision Asia Forum 2025" held in Singapore, David A. Katz, Circle's Vice President of Strategy and Public Policy for the Asia-Pacific region—the company behind the USDC stablecoin—said that cross-border transactions represent a key use case for stablecoins, and therefore issuing a renminbi-denominated stablecoin would help promote renminbi internationalization.
Katz emphasized that digital asset issuance must meet two core requirements: first, ensuring network security and protection against hacking attacks; second, the digital assets must be fully backed one-to-one by real, high-quality, highly liquid assets, and custodied by appropriate institutions.
Notably, he revealed that approximately 90% of the reserve assets backing USDC are custodied by BlackRock.
