【Payments, Clearing, and Public Chains: The Three Horses Driving a New Global Financial Order】
Traditional finance is accelerating its digital transformation, and on-chain infrastructure will be key to reshaping it. ACH focuses on on-chain payment implementation, bridging the gap between fiat and cryptocurrency consumption; XRP serves as a bridge in the clearing network and has entered national-level application pilots in Japan, the United States, and other regions; CFX is the public chain with the strongest compliance attributes, leveraging policy resources from China and Hong Kong to lay out offshore RMB stablecoins. The three are building a new financial infrastructure from the three core aspects of payments, clearing, and compliance, and their value has yet to be fully realized by the market.