Offshore Renminbi Stablecoin: A New Force Reshaping the Global Payment Landscape

The global monetary system is undergoing a significant transformation. New payment methods centered around sovereignty, compliance, and efficiency are quietly emerging, bringing unprecedented opportunities for cross-border transactions.

Recently, at a Web3 development conference held in Shanghai, the founder of an innovative financial company elaborated on the practices and future trends of offshore RMB stablecoin. With the increasing demand for cross-border payments and the gradual clarification of regulatory frameworks in various countries, offshore RMB stablecoin is ushering in an important development opportunity.

From Hong Kong to Central Asia, and then to the countries along the "Belt and Road" initiative, this company is building a digital modern Silk Road. This is not only a business innovation but also a strategic layout for diversifying the global monetary system.

Thoughts on Cryptocurrency in the Context of Traditional Finance

The founder has nearly twenty years of experience in finance and investment, having worked at well-known investment banks and private equity funds. He stated that from the end of 2022 to the beginning of 2023, they judged that exchanges were the most profitable segment in the crypto industry at that time, and that stablecoins were likely the next major opportunity.

As an "infrastructure" connecting traditional finance and the crypto world, stablecoins can improve the efficiency of cross-border payments and reduce settlement costs. However, before they can be truly implemented, "compliance" will become the key factor determining whether stablecoins can develop sustainably.

In this context, Hong Kong's policy direction has become an important consideration. As an international financial center, Hong Kong has a widely recognized regulatory environment while allowing considerable operational space for financial innovation. At the end of 2023, relevant departments in Hong Kong jointly issued a consultation document on stablecoin regulation, laying the groundwork for policy advancement.

From Kazakhstan to Hong Kong: The Pragmatic Path of Stablecoins

In the context of the rapidly changing global regulatory environment, this company has chosen a pragmatic compliance path. They believe that the advancement of stablecoin regulations in various countries creates conditions for the standardization and scaling of the industry.

In early 2025, facing the incomplete regulatory framework in Hong Kong, the company took the lead in expanding overseas. In May, they obtained the first offshore Renminbi stablecoin license issued by the financial regulatory authority of Kazakhstan. This layout is highly aligned with the "Belt and Road" initiative, providing a new solution for cross-border settlement in the Central Asian region.

As the world's largest offshore RMB trading center, Hong Kong remains the focus of the company's long-term strategy. They are maintaining close communication with the Hong Kong Monetary Authority and plan to submit a formal stablecoin license application.

Reconstructing Cross-Border Payments: The Future of Instant Settlement

Compared to the traditional SWIFT system, blockchain-based stablecoins show significant advantages in cross-border settlement efficiency. SWIFT is essentially an information flow system, where the information flow and the fund flow are separated, resulting in funds typically taking 3-6 days to arrive.

The blockchain-based technology architecture can directly connect information flow and capital flow, achieving almost instantaneous fund arrival. This solution can achieve near real-time settlement on cross-border chains, typically completing confirmation within one minute, significantly improving efficiency.

Compared to the US dollar stablecoin, offshore RMB stablecoin is more suitable for the global layout of Chinese enterprises. Many Chinese companies, when promoting overseas business, still have their cost centers in China; using the US dollar means they ultimately need to convert back to offshore RMB, increasing exchange costs. Offshore RMB stablecoin can be directly pegged to offshore RMB, simplifying the process and bringing substantial savings to enterprises.

The Era of Multi-Polar Stablecoins: A New Direction in the Global Landscape

Currently, the US dollar stablecoin dominates the market. However, this single pattern may not last long term. In the future, if sovereign currencies are mapped as stablecoins in some form, the international monetary system is likely to center around several important sovereign currencies, moving towards a multipolar balance structure. The euro, Chinese yuan, and especially offshore yuan are expected to gradually increase their share in the stablecoin market.

This trend has already manifested at the regulatory level. Multiple economies are integrating digital currencies into their regulatory frameworks, clearing obstacles for the growth of non-dollar stablecoins. Taking offshore RMB as an example, its proportion in the SWIFT payment system is currently about 5%. If the stablecoin market reaches a scale of $2 trillion in the future, the potential space for offshore RMB stablecoins could be as high as several hundred billion dollars.

Conclusion: The Eastern Narrative of the New Order of Digital Currency

The power landscape of global digital currencies is being reconstructed. Regulatory actions around the world outline the underlying logic of the reshuffling of the global currency system. The future is likely to be a diversified pattern, with a market space worth "hundreds of billions of dollars" sufficient to accommodate multiple independent ecosystems that are not dependent on the US dollar system.

In this global competition centered on technology, regulation, and currency, enterprises targeting international markets are transforming from rule adaptors into practitioners, participants, and co-builders of innovative technological solutions. The dawn of the multipolar stablecoin era may be slowly unfolding in the morning mist of Victoria Harbour in Hong Kong.