Renmin University of China Institute of Fintech: Promote Interoperability and Mutual Recognition Between Digital Yuan and Controlled Stablecoins

The Fintech Research Institute of Renmin University of China wrote an article entitled "The Rise of Stablecoins: A Catalyst for the New Era of Digital Finance," which pointed out that the development of stablecoins brings three implications for emerging economies such as China: First, pilot projects should be carried out in closed scenarios such as cross-border e-commerce, regional trade, and offshore settlement to accumulate experience; second, technology and compliance should be promoted in parallel, reserve transparency and on-chain security should be strengthened, and the interoperability and mutual recognition of the digital RMB and controllable stablecoins should be promoted; and third, active participation in global governance mechanisms such as the BIS and IMF should be encouraged to jointly promote the formulation of digital financial rules and strive for more interests and voice for developing countries. [Foresight News]