National Financial and Development Laboratory: Shanghai Free Trade Zone and Hong Kong can simultaneously promote innovative exploration of RMB stablecoins
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Planet Daily News: The public account of the National Financial and Development Laboratory published an article titled "RMB Stablecoin Development Model Can Be 'Integrated Internally and Externally'", pointing out: It can be considered to simultaneously promote innovative exploration of RMB stablecoins in the Shanghai Free Trade Experimental Zone and Hong Kong. One model of offshore RMB stablecoin (CNY Coin, CNYC) is to establish a RMB stablecoin issuance institution in the Shanghai Free Trade Zone jointly by clearing organizations, large commercial banks, leading payment institutions, and well-known investment institutions, exploring the on-chain issuance and operation mechanism of RMB stablecoins. The second model is to directly mint and operate RMB stablecoins on-chain by relying on branch institutions of some digital RMB operating entities in the Shanghai Free Trade Zone.
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