Viewpoint: Digital RMB and stablecoins complement each other more than opposition, but there is competition between user mind and payment portal

According to BlockBeats, on September 15, according to Caixin, Liu Xingliang, a member of the Information and Communications Economic Expert Committee of the Ministry of Industry and Information Technology, said that the RMB stablecoin (Hong Kong version of "Fire Currency-Anchored Stablecoin") is issued by licensed institutions, requiring 1:1 high-quality reserves, penetrating supervision and custody arrangements, which is closer to commercial innovation and the Web3 ecosystem. The "native on-chain" ecosystem of stablecoins in on-chain scenarios, 24×7 cross-platform clearing and settlement, DeFi/chain game/asset tokenization (RWA) is more flexible, but it requires strong constraints to prevent bank runs and on-chain risks. For cross-border and interoperability, the digital RMB will be more connected across borders (such as mBridge wholesale multi-central bank platform), emphasizing real-time, atomic settlement and compliance. Stablecoins are naturally cross-border 24×7 and can be reached and connected to global chain liquidity, but anti-money laundering/sanctions compliance and reserve security are the lifeblood. Digital RMB = "national base" (stable and controlled), stablecoin = "market-oriented front-end" (live and fast). Complementary> Opposition, but there will be certain competition between the user's mind and the payment portal.