logo

PBoC: Limited Need for Domestic Adoption of Independent Blockchain Stablecoins

By: theblockbeats.news|2025/07/15 01:01:59

BlockBeats News, July 15th: The People's Bank of China released a research report stating that the widespread adoption of stablecoins has limited impact on existing businesses such as WeChat Pay. China's third-party payment providers fundamentally operate on a mechanism similar to a "stablecoin" anchored to the RMB, relying on legal reserves to ensure the stability of the currency value. Domestic transaction fees are as low as a fraction of a percent, far lower than those of overseas platforms. Therefore, it is believed that in the current efficient and low-cost mature third-party payment system, the necessity for the widespread adoption of independent blockchain-based stablecoins in China is low, thus posing limited threat to existing businesses. On the other hand, internet companies involved in cross-border payments are more actively exploring the stablecoin field. It is believed that internet companies have advantages in stablecoin adoption:

1) User Scenarios: Companies like Amazon have hundreds of millions of users and mature payment scenarios (such as cross-border e-commerce), making it possible to quickly promote stablecoin applications;

2) Technical Capabilities: Internet companies have strong technology R&D capabilities;

3) Ecosystem Synergy: The combination of B2B (supply chain) and B2C (retail payments) loops can enhance the network effect of stablecoins. (Jinse)

Two wallets suspected to be from the same entity spent $100.54 million to buy 33,366 Ethereum
Wintermute: In the 2025 bull market, institutions will increase their holdings of BTC and ETH, and retail investors will turn to Meme coins

You may also like

Share
copy

Gainers

Latest Crypto News

12:15

Cysic Foundation: Airdrop Eligibility Check Tool Now Live

11:45

WSJ: Investors are Wary of a New Round of the "Crypto Winter"

11:45

Aethir Releases 12-Month Future Roadmap to Accelerate Growth in Global Enterprise AI Computing Business

11:15

24-hour Spot Funding Inflow/Outflow List: ETH Net Outflow of $126 million, ZEC Net Outflow of $18.2 million

11:15

Bloomberg: Fed Never So Split on Long Rate Strategy

Read more
Community
icon
icon
icon
icon
icon
icon
icon

Customer Support@weikecs

Business Cooperation@weikecs

Quant Trading & MMbd@weex.com

VIP Servicessupport@weex.com