The Economic Observer published an article "How the Hong Kong Experiment of Offshore RMB Stablecoin Broke", which pointed out that the Hong Kong Stablecoin Ordinance is scheduled to be implemented in August or indicates that the experiment of offshore RMB (CNH) stablecoin is approaching. Referring to the experience of RMB business pilot in 2003, the implementation of CNH stablecoin can be advanced in three stages:
First, the sandbox experiment (2025-2026): a pilot issue of CNH stablecoins by Chinese-funded licensees for use in the Greater Bay Area trade scenario;
Second, regional expansion (2026-2027): access to cross-border projects such as mBridge (multilateral central bank digital currency bridge), while piloting RWA (real-world asset) applications such as bond tokenization;
Third, global promotion (from 2028): the joint IMF (international monetary fund) and other international organizations to develop technical and regulatory standards to promote the CNH stablecoin as a regional commodity pricing tool.
Economic Observer: CNH stablecoin refers to the pilot experience of RMB business or will be advanced in three stages
2025-06-20 02:07:46
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