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Caixin: Promoting the offshore RMB stablecoin pilot program at the right time may improve the efficiency of RMB internationalization
8hours ago

According to Odaily's Planet Daily, Caixin Weekly's 35th issue's cover story, "Renminbi Internationalization Opportunities," noted that a source close to Bank of China (Hong Kong) believes the current window of opportunity presents a favorable window for promoting RMB internationalization. Institutions such as Bank of China and China Construction Bank have stepped up their efforts to promote RMB internationalization. Many industry insiders believe that in an era of dramatic changes in both international trade and monetary systems, the market desires a more stable and diversified monetary system. The emergence of stablecoins as a bridge between cryptocurrencies and the real world in the first half of 2025 has led some to believe that the timely implementation of offshore RMB stablecoin pilots could improve the efficiency of RMB internationalization and provide an alternative to the US dollar system.