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Economic Observer: CNH Stablecoin Referencing RMB Pilot Experience May Progress in Three Phases
Summary: According to Economic Observer, an article titled 'How to Break the Deadlock of Offshore RMB Stablecoin Experiment in Hong Kong' suggests that the implementation of the Hong Kong stablecoin regulations in August may indicate the approaching trial of offshore Renminbi (CNH) stablecoin. Drawing from the 2003 RMB pilot experience, the implementation of CNH stablecoin could ...
According to Economic Observer, an article titled 'How to Break the Deadlock of Offshore RMB Stablecoin Experiment in Hong Kong' suggests that the implementation of the Hong Kong stablecoin regulations in August may indicate the approaching trial of offshore Renminbi (CNH) stablecoin. Drawing from the 2003 RMB pilot experience, the implementation of CNH stablecoin could progress in three phases: first, sandbox testing (2025-2026): pilot issuance of CNH stablecoin by Chinese licensed institutions for use in the Greater Bay Area trade scenarios; second, regional expansion (2026-2027): integration with mBridge (multilateral central bank digital currency bridge) and pilot projects such as tokenization of bonds and RWA (real-world assets) applications; third, global promotion (from 2028): in collaboration with IMF and other international organizations to establish technical and regulatory standards, promoting CNH stablecoin as a regional commodity pricing tool. (Economic Observer)
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Link: Economic Observer: CNH Stablecoin Referencing RMB Pilot Experience May Progress in Three Phases [Copy]
