GHO

The Guangzhou Municipal Financial Office issued the "Digital Currency 2.0 Plan," exploring the promotion of using digital renminbi as a prepaid payment method throughout the city

ChainCatcher news, the Financial Office of the Guangzhou Municipal Committee recently issued the "Action Plan for Further Promoting the Digital Renminbi Work in Guangzhou" (referred to as the "Digital Currency 2.0 Plan"). The "Action Plan" clarifies the main tasks of the pilot work from seven aspects.Further leverage the functional roles of the member units of the Guangzhou Digital Renminbi Work Leading Group. Each unit will formulate work plans for innovating and promoting digital renminbi application scenarios in their respective fields, implementing no less than one application scenario in their areas of responsibility.Explore promoting the use of digital renminbi as a payment method for prepaid services citywide.Vigorously create various digital renminbi application demonstration zones.Further enrich and improve application scenarios for digital renminbi in the transportation sector.Promote innovative digital renminbi application scenarios in the port and shipping sector.Actively advance the application of digital renminbi in cross-border payment and other businesses. Actively promote the participation of digital renminbi operating institutions and related enterprises in the pilot testing of the multilateral central bank digital currency bridge in the Guangzhou area. The Guangzhou Commodity Exchange's commodity trading platform and the Guangzhou Shipping Exchange's digital renminbi application will be implemented.Vigorously enhance the foundational strength of the digital renminbi industry.

Aave Labs proposed to integrate the GHO stable module with the BlackRock BUIDL Fund

ChainCatcher news, according to The Block, Aave Labs has proposed a temperature check proposal aimed at updating the GHO Stable Module (GSM) to integrate it with BlackRock's tokenized fund BUIDL. The main function of the GSM is to ensure that Aave's native stablecoin GHO maintains a 1:1 convertibility with other assets. The proposal suggests building a new instance of GSM that supports external integrations and related control mechanisms, specifically to support BlackRock's BUIDL. Currently, the proposal is in the temperature check phase and is receiving feedback from Aave governance members. If the community feedback is positive, AAVE token holders will vote on its implementation.BUIDL is a tokenized fund representing traditional assets such as cash and U.S. Treasury bonds. The proposal plans to achieve a 1:1 fixed exchange ratio between USDC and GHO, utilizing users' remaining USDC to mint equivalent dollar BUIDL shares. This could provide users with monthly BUIDL dividends, while the exchange fees will accumulate in the form of GHO stablecoin. Aave Labs stated that this implementation plan could enhance the capital efficiency of GSM while maintaining high standards of support, as USDC continues to back GHO. Furthermore, the integration of BUIDL with GSM could open new revenue streams for Aave DAO, expanding into the realm of physical assets and creating opportunities for future collaboration with leading global financial institution BlackRock.
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