Yesterday I saw the market speculating on CFX offshore RMB stablecoin, and my first reaction was that it felt like a very foolish thing to do.

Once again, the offshore RMB is being discussed, but several mandatory conditions are required.


1. Policy and Regulatory Support: The operation of offshore RMB must receive government endorsement and have a clear connection mechanism with relevant regulatory agencies; otherwise, it cannot circulate legally.


2. Choice of Underlying Public Chain: Offshore RMB must operate on a PoS chain that supports verifiable and efficient transactions. Ethereum is currently the most mature and suitable choice, but other PoS chains that consider compatibility and transaction cost factors may also be considered.



3. Application and Protocol Ecosystem: Offshore RMB needs mature application scenarios for support, and it must be fully connected with basic protocol cross-chain bridges, wallets, and smart contract protocols to form actual circulation and usage value.



Triggering the above three conditions cannot be forcibly initiated in one or two days; it requires time to settle. Well, saying more is of no use～


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