Promoting the development of the Renminbi in Hong Kong: A global strategy in cryptocurrency
The potential and advantages of the internationalization of the Renminbi
On June 22, sources from Hong Kong Wen Wei Po revealed that Vice Chairman of JD Group, Shen Jianguang, made an important statement at the 2025 Asset Management Trade Conference. He emphasized that, although the Renminbi has made significant progress in internationalization, the opportunity to expand its role in the global financial market is still very large. Specifically in the cryptocurrency sector, the development of the Renminbi into an offshore reserve currency could create a breakthrough, promoting widespread acceptance in the digital ecosystem.
Hong Kong: The center for developing offshore RMB and its momentum in the cryptocurrency market
With its strategic position, Hong Kong has the potential to become a leading center in developing offshore RMB – a convertible form of cryptocurrency, to serve the needs of cross-border payments and legal transactions. A notable feature of offshore RMB is its ability to limit control, enabling other central banks to easily integrate and operate blockchain to create systems based on stablecoins or cryptocurrencies linked to the RMB. Developing a stablecoin based on offshore RMB will help strengthen China's competitive position in the global cryptocurrency sector, especially in cross-border financial services.
The role of stablecoins based on offshore RMB in the international competition of cryptocurrency
In the context of global competition, stablecoins developed based on offshore RMB are essentially an optimal tool to support digital transactions. It could become the new international reserve currency, meeting the requirements of central banks and large enterprises. In particular, customers in the blockchain ecosystem will benefit from price stability, minimizing market volatility. In this way, Hong Kong can take the lead in efforts to make offshore RMB the dominant international payment currency, opening a new era for cryptocurrency and the global financial system.
The impact of this strategy on the global cryptocurrency market
The development of offshore RMB will have a widespread impact globally, promoting the expansion of stablecoins and tokenized assets based on this currency. Major investors, financial institutions, and central banks will have the opportunity to create decentralized trading platforms (DeFi) and legitimize supply chains according to international standards. The cryptocurrency market will become more flexible, aligning with the competitive trends of nominal fiat currencies and tokenized digital assets. In particular, Hong Kong could very well become the hub for digital financial services in the era of global digital transformation.
Conclusion
In the context of expanding the cryptocurrency market, the development of offshore RMB in Hong Kong not only creates local competitive advantages but also contributes to reshaping the internationalization strategy of this currency. The global financial market is waiting for a significant advancement. Without a doubt, Hong Kong will continue to be a leading hub in promoting blockchain solutions, stablecoins, and developing digital financial ecosystems based on cryptocurrency. In the future, offshore RMB based on blockchain will be more practical than ever, positioning the country of China in the digital world and global cryptocurrency.
Source: https://tintucbitcoin.com/vice-chairman-jd-group-proposes-issuing-offshore-stablecoin/
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