Fan Wenzhong, Vice President of the Beijing Academy of Social Sciences, has proposed a collaborative approach between China's digital yuan (e-CNY) and Hong Kong's compliant stablecoins to reshape cross-border payment systems. In his article, Fan suggests that this synergy could expand the cross-border reach of the digital yuan, enhance its use in real trade, and promote the internationalization of the renminbi. Additionally, this collaboration could strengthen Hong Kong's position as an international financial center by creating the world's first hub integrating CBDCs and compliant stablecoins. The proposal emphasizes the establishment of regulated, standardized interfaces for secure value exchange and circulation, rather than unifying the underlying ledgers of the two systems.
Beijing Scholar Advocates for e-CNY and Hong Kong Stablecoin Collaboration
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