CICC: Stablecoins have the potential to become a new type of infrastructure

ChainCatcher news, according to Zhito Finance, a research report from China International Capital Corporation (CICC) states that stablecoins have the potential to become a new type of infrastructure. By analyzing the incentive compatibility mechanisms of various participants in the stablecoin ecosystem, the report looks ahead to the potential impact of stablecoins on financial markets and the international monetary system, and further explores China's response strategies.

The report believes that the embryonic stage of infrastructure presents important development opportunities, and issuing offshore RMB stablecoins may be China's priority choice for participating in stablecoin development. However, it should be noted that stablecoins are merely a "technique" to promote the internationalization of the RMB. Whether the RMB can become a widely trusted international currency fundamentally depends on the "principle," namely the "legal anchor" and "functional anchor" of the RMB.