According to Odaily Planet Daily, the official website of the Hong Kong University School of Business and Economics published an article titled "Offshore RMB Stablecoins Present Opportunities and Challenges." The article states that the development prospects of offshore RMB stablecoins are determined by three factors: demand for their use, the supply of underlying assets, and policy and regulatory support. On the demand side, the primary application of RMB stablecoins in the future will be in cross-border payments. Stablecoins can leverage their technological advantages, such as high payment efficiency, low costs, and convenient procedures, to serve the real economy. Data shows that cross-border RMB payments and receipts under the current account reached 16 trillion yuan in 2024, eight times the combined market capitalization of the two major stablecoins, USDT and USDC. This enormous settlement volume is expected to gradually shift towards stablecoins in the medium to long term.