The wave of RMB stablecoin is coming, and experts are calling for the acceleration of the layout of new internationalization paths.

On June 23, the Securities Times published an article pointing out that the wave of stablecoins is sweeping the globe, becoming an important issue that countries urgently need to address. Allowing stablecoins to develop in an unregulated manner on the periphery will have a negative impact on the domestic financial system, and giving up an efficient settlement tool will miss new opportunities for currency globalization. For China, which is actively enhancing the international status of the Renminbi, proactively regulating stablecoins and accelerating the internationalization of the Renminbi may be a better solution.

Experts and industry insiders generally believe that as an emerging payment tool, the unique advantages and potential risks of stablecoins cannot be ignored, and the development of the Renminbi stablecoin “should not be delayed.” Participating in the competition of the international monetary system with a “dual-track approach” based on the digital Renminbi and offshore Renminbi stablecoin may represent a new path for the internationalization of the Renminbi in the face of changing times. Fiat stablecoins and digital Renminbi each have their focus and complement each other, with the former mainly used for cross-border Settlement, crypto asset trading, etc., while the latter has been widely applied in domestic life payments, shopping consumption, and other scenarios.