Caixin: Timely promotion of offshore RMB stablecoin pilot projects may improve the efficiency of RMB internationalization

ChainCatcher news, Caixin Weekly's 35th issue cover story "Opportunities for Renminbi Internationalization" points out that a person close to Bank of China Hong Kong believes that the current period is a great window for promoting Renminbi internationalization, and institutions such as Bank of China and China Construction Bank have increased their efforts to promote Renminbi internationalization business.

Many industry insiders believe that in an era of simultaneous upheaval in international trade and monetary systems, the market expects a more stable and diversified monetary system. At the same time, stablecoins, serving as a bridge between cryptocurrencies and the real world, have emerged strongly in the first half of 2025. This has led to some opinions suggesting that if the pilot for offshore Renminbi stablecoins is timely promoted at this moment, it could enhance the efficiency of Renminbi internationalization and provide an alternative outside the dollar system.