Economic Observer: CNH stablecoins may be promoted in three stages based on the pilot experience of RMB business
According to online reports, the Economic Observer newspaper article "How to Break the Hong Kong Trial of Offshore RMB Stable Coin" pointed out that the Hong Kong Stabilizing Coin Regulations is scheduled to be implemented in August or indicates that the trial of offshore RMB (CNH) Stabilizing Coin is approaching. With reference to the experience of RMB business pilots in 2003, the implementation of CNH Stabilizing Coin can be advanced in three stages: First, sandbox test (2025-2026): Pilot issuance of CNH stablecoins by Chinese-funded licensed institutions for the Greater Bay Area trade scenario; second, regional expansion (2026-2027): Access cross-border projects such as mBridge (Multilateral Central Bank Digital Currency Bridge), and pilot RWA (Real World Asset) applications such as bond tokenization; Third, global promotion (starting from 2028): Jointly with international organizations such as the IMF (International Monetary Fund) to formulate technical and regulatory standards to promote CNH stablecoins as regional commodity pricing tools.
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