China closely monitors Stablecoin’s developments while using Hong Kong as a test to innovate digital currency.
Financial organizers have increased discussions on stablecoin strategies, focusing on compatibility with national conditions and capital monitoring concerns.
Stablecoin’s careful strategy in China
Chinese financial organizations recently summoned cryptocurrencies to discuss Stablecoin and implementation strategies, The Financial Times I mentioned. One of the participants revealed that the participants that must be Stablecoin projects are compatible with the national conditions specified in China. Moreover, central bankers have repeatedly warned of the risks of potential capital flow from Stablecoin projects.
Hong Kong acts as an encryption currency laboratory in China after banning mainland trading. The region has issued legislation that allows the licensed companies to issue the FIAT. However, HKMA plans to give only a handful of licenses that start next year, including only one of the four main banks in China at first.
While the central bank is ruled Recognized Stablecoins has reshaped the traditional scene of payment, and China’s politicians are afraid that dollar -backed symbols enhance US currency dominance worldwide. Oh, on the other hand, state -owned Chinese institutions show increasing interest in Stablecoin applications for payments and settlements.
Multiple state -owned companies seek Hong Kong operations to obtain Stablecoin licenses, and the authority has not ruled to Renminbi -backed Stablecoins.
By default, Coinfulx and series maker
Besides the regulatory frameworks, Stablecoin is dependent on China, if it is achieved, highly dependent on the infrastructure capabilities under the Blockchain.
Analyst named “Frank” from the local media in China, Panews, theoretically He specifies Conflux as a leading Stablecoin infrastructure in China. The platform is uniquely operating as a general Blockchain organized in China with the original CFX symbols. This exceptional situation can provide decisive advantages for the development of Stablecoin.
On the other hand, Frank also highlights that Chainmaker has an infrastructure at the level of institutions and support for a strong policy from Beijing. The platform attracts state -owned major companies and appears in government planning documents. However, the structure of its union chain may limit Stablecoin’s international applications.
BSN and Xinghuo are the permitted Blockchain approach in China without local symbols. Theoretically notes that his industrial focus effectively serves local needs. However, the structure of the distinctive symbol can be restricted to Stablecoin compared to the characteristics of the general series of Conflux.
The analyst concludes by default that Conflux international standards are compatible with Stablecoin’s aspirations in China.
Disintegration
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2025-08-07 04:00:00
