two news from past month on RMB internationalization. I think the future exchange one is pretty huge.
What we are witnessing in 2025 is not a radical challenge to the prevailing currency system, but the construction of a parallel one – intended not to displace the dollar, but to reduce exposure to it. China is leveraging global uncertainty to accelerate a model of selective internationalization it has long been developing. This model does not aim to overturn the existing monetary order, but to insulate China and its partners from its volatility and to expand China’s influence in targeted domains. It does not seek to replace one global financial hegemon with another, but to mitigate the risks of reliance on the existing one. Rather, RMB internationalization is incremental but accelerating – a recalibration of risk, reach, and the rules of global finance.
well, that's part of it, the other part is building financial industry.
Whats the diff of function between Digital yuan and rmb stable coin?
so domestic firms are now pushing for RMB stablecoin. This is going to be very interesting to see if Chinese government allows this to go forward.
There seems to be government support. Policy, acknowledgement were there.
so domestic firms are now pushing for RMB stablecoin. This is going to be very interesting to see if Chinese government allows this to go forward.
Digital yuan is an official central bank digital currency(assuming that is what you meant) and stable coins means that one digital coin is backed by some official currency. So one of x, y, z stable coin can always be exchanged for a (digital) yuan, dollar, euro and vice versa.Whats the diff of function between Digital yuan and rmb stable coin?
Pardon my ignorance...so the digital yuan can be used only in China, and the stablecoin used anywhere?Digital yuan is an official central bank digital currency(assuming that is what you meant) and stable coins means that one digital coin is backed by some official currency. So one of x, y, z stable coin can always be exchanged for a (digital) yuan, dollar, euro and vice versa.
The digital yuan is legal money from the Peoples bank of China. A stable coins is a crypto coin printed by a 3rd parties that is supposed to be backed by legal money. Kind of like how people talk about a gold backed yuan/dollar.Pardon my ignorance...so the digital yuan can be used only in China, and the stablecoin used anywhere?