CoinVoice has recently learned that on August 23, the Hong Kong University of Science and Technology Business School published an article titled 'Opportunities and Challenges of Offshore RMB Stablecoins', which pointed out that the development prospects of offshore RMB stablecoins are determined by three factors: their usage demand, underlying asset supply, and policy and regulatory support.

In terms of demand, the main application of RMB stablecoins in the future will focus on cross-border payments. Stablecoins can leverage their technological advantages of high payment efficiency, low costs, and convenient procedures to serve the real economy.

Data shows that in 2024, the total cross-border receipts and payments of RMB under the current account will reach 16 trillion yuan, which is eight times the total market capitalization of the two major stablecoins, USDT and USDC. In the medium to long term, this enormous settlement volume is expected to gradually shift towards stablecoins. [Original link]