ChainCatcher news, according to Sina Finance, JD.com and Ant Group recently suggested to the People's Bank of China to approve the issuance of a stablecoin based on the renminbi. JD.com pointed out in closed-door discussions that there is an urgent need to promote the implementation of offshore renminbi stablecoins as a key tool for advancing the internationalization of the renminbi.Additionally, it is reported that Ant Group is preparing to apply for stablecoin-related licenses in Hong Kong and Singapore to make preliminary preparations for the issuance of offshore renminbi stablecoins.

ChainCatcher news, according to Jinshi reports, A-share listed company Jinyi Culture stated on the interactive platform that the Kaike Weishi digital RMB product utilizes blockchain technology to design a distributed ledger for digital currency wallets, independently supporting the core processing system of wallet operations, including lifecycle management from wallet opening to closing, classification and grading of wallets, wallet accounting and distributed reconciliation, as well as the application of digital certificates, digital signatures, encrypted storage, and other functions based on blockchain smart contract technology. Some technologies can be applied in the stablecoin field.

ChainCatcher news, according to an informed source, a Chinese brokerage has begun offering tokenized securities that accrue interest in currencies such as USD, HKD, and offshore RMB. The source stated that the Hong Kong subsidiary of GF Securities Co., Ltd. has launched a tokenized security called "GF Token," which accrues interest daily and is redeemable daily. The USD token is based on the Secured Overnight Financing Rate (SOFR), while the interest rates for the HKD and RMB products are not yet clear.The source mentioned that this token is only available to institutional and professional investors, allowing short-term idle funds to earn interest and facilitating conversions between other tokenized assets. The token is issued on-chain and will be traded on the licensed cryptocurrency exchange Hashkey in Hong Kong.Currently, GF Securities (Hong Kong) has not responded immediately to this. (Bloomberg)

ChainCatcher News, Li Yang, a member of the Chinese Academy of Social Sciences and chairman of the National Finance and Development Laboratory, stated that the U.S. push for stablecoin legislation aims to strengthen the dollar's position, promote payment modernization, and create new demand for U.S. Treasury bonds. Stablecoins are essentially an extension of the dollar on the blockchain.In the face of this trend, China should firmly promote the internationalization of the renminbi and align with the integration of stablecoins and traditional finance, fostering the complementary development of renminbi stablecoins and central bank digital currencies. Li Yang suggested fully leveraging Hong Kong's advantages to develop offshore renminbi stablecoins and build controllable international payment channels.

ChainCatcher news, Economic Observer article "How the Offshore Renminbi Stablecoin Experiment in Hong Kong Breaks the Deadlock," points out that the proposed Hong Kong stablecoin regulations set to be implemented in August may signal the imminent trial of offshore renminbi (CNH) stablecoins. Referring to the experience of the renminbi business pilot in 2003, the implementation of CNH stablecoins can be advanced in three phases:First, sandbox trial (2025---2026): Pilot issuance of CNH stablecoins by licensed Chinese institutions for trade scenarios in the Greater Bay Area;Second, regional expansion (2026---2027): Connecting to cross-border projects such as mBridge (Multilateral Central Bank Digital Currency Bridge), while piloting applications like bond tokenization and other RWA (real-world assets);Third, global promotion (starting in 2028): Collaborating with international organizations such as the IMF (International Monetary Fund) to establish technical and regulatory standards, promoting CNH stablecoins as a regional commodity pricing tool. (Economic Observer)

ChainCatcher news, according to Jinshi Data, Hong Kong's Financial Secretary Paul Chan attended the Bank of China 2025 Renminbi Internationalization Forum and delivered a speech at the event. Paul Chan revealed that Hong Kong is the world's largest offshore Renminbi business hub, handling about 80% of the global offshore Renminbi payment amounts, is the largest offshore Renminbi funding pool, and has the world's most active Renminbi foreign exchange and bond market.

ChainCatcher news, former Vice President of the Bank of China Wang Yongli published an article titled "The Accelerated Development of Dollar Stablecoins Brings Profound Warnings," in which he pointed out that the United States is legislating to protect and support the mining and trading of crypto assets, even making it a national strategic reserve. It supports the legal operation of dollar stablecoins and actively seizes the high ground in the fields of crypto assets and stablecoins, enhancing the demand for U.S. Treasury bonds and the international influence of the dollar, which has significant and far-reaching strategic implications. China needs to fully recognize and actively respond to this.Fortunately, Hong Kong is actively promoting the development of Web 3.0 along with crypto assets and Hong Kong dollar stablecoins. Companies from the mainland are also actively participating. The regulatory framework for stablecoins in Hong Kong is leading the world and can provide valuable references for the mainland. It requires high attention and in-depth research from the financial sector, academia, as well as judicial and regulatory departments in the mainland. Consideration could be given to launching an offshore RMB stablecoin in Hong Kong, initially used for overseas crypto asset trading payment and settlement, exploring the development of RMB stablecoins and even digital RMB.

ChainCatcher news, Cango, a company listed on the New York Stock Exchange, released its unaudited financial performance report for the first quarter of 2025, which disclosed:Total revenue was 1.1 billion RMB (145.2 million USD), of which the Bitcoin mining business generated 1 billion RMB (144.2 million USD) in revenue this quarter;The mining output was 1,541 Bitcoins, with an average mining cost of 70,602.1 USD per Bitcoin.As of March 31, 2025, the total balance of cash and cash equivalents and short-term investments was 2.5 billion RMB (347.4 million USD).

According to ChainCatcher news, Zero One Think Tank reports that JD Technology Group has recently posted multiple job openings related to RWA on BOSS Zhipin, marking its official entry into the field of Real World Asset Tokenization (RWA), with a strategic focus on new energy assets, and explicitly requiring that system design must support integration with stablecoins and digital renminbi.JD has currently entered the Hong Kong stablecoin sandbox and is among the first batch of technology companies in the mainland digital renminbi pilot, potentially becoming the first case to connect RWA with digital renminbi interaction.

ChainCatcher news, Matrixport released today's chart stating that after the RMB devaluation in 2015, Bitcoin experienced a sell-off but rebounded strongly by the end of the year, closing the year with gains. We may see a similar scenario replaying now, and this judgment resonates with our bullish view on gold from 18 months ago.Currently, the USD to RMB (USDCNY) exchange rate is expected to break through a key technical resistance level, which is highly similar to our initial assessment of gold being "artificially suppressed and poised for a breakout," potentially indicating that Bitcoin is also about to experience a rapid increase.In addition, the correlation between USDCNY and the US 10-year Treasury yield is also worth noting. Although US Treasury yields have recently declined, a rapid rebound could exert some pressure on Bitcoin's upward momentum in the short term.

ChainCatcher news, according to Jinshi reports, the China Securities Regulatory Commission (CSRC) issued a letter in response to proposals from the Second Session of the 14th National Committee of the Chinese People's Political Consultative Conference. It mentioned that the CSRC and relevant departments will further optimize and expand the connectivity between the mainland and Hong Kong financial markets, continuously improve mechanisms such as Stock Connect, Bond Connect, and mutual recognition of funds. They will conduct in-depth research and demonstration on the feasibility of Hong Kong companies listing in the mainland based on existing experiences, continuously promote the optimization of the "Cross-border Wealth Management Connect" pilot program in line with market demand, and orderly carry out the pilot of digital RMB in Hong Kong based on actual conditions, comprehensively deepening practical cooperation between the mainland and Hong Kong, and consolidating and enhancing Hong Kong's status as an international financial center.

ChainCatcher news, according to Sina's quotation, the offshore RMB against the US dollar has broken through the 7.23 mark, rising more than 200 points during the day, reaching a new high since the end of November last year.

According to ChainCatcher news and the official website, the Shenzhen Development and Reform Commission launched the application scenario innovation project solicitation on January 9. This plan aims to collect application projects of new technologies such as artificial intelligence large models, generative artificial intelligence, and blockchain from government departments, enterprises, and institutions.In the financial sector, the focus is on application scenarios such as big data risk control for small and micro enterprises, intelligent anti-fraud, blockchain cross-border convenient payment, and digital RMB business circles. The project solicitation deadline is January 22, 2025, and selected projects will be included in the opportunity list for application scenarios and receive "online + offline" promotion support.

ChainCatcher news, according to the Mobile Payment Network, on January 4, 2025, the digital renminbi App, led by the Digital Currency Research Institute of the People's Bank of China and co-built by operating institutions, will celebrate its 3rd anniversary.Since its launch 3 years ago, the digital renminbi App has undergone approximately 38 updates, including 16 times in 2022, 12 times in 2023, and 10 times in 2024. It is currently at version 1.1.14.

ChainCatcher news, according to Xinmin Evening News, under the guidance of the Shanghai headquarters of the People's Bank of China, the Shanghai branch of Bank of China completed a corporate dividend transfer to Singapore using digital renminbi remittance, successfully landing the first cross-border digital renminbi capital account business between China and Singapore.The Shanghai branch of Bank of China actively supports the digital renminbi pilot work: in cooperation with the Shanghai Gold Exchange, it completed a cross-border settlement of 100 million yuan in digital renminbi for precious metal transactions, marking the first cross-border digital renminbi payment in the financial factor market; using digital renminbi to pay Baowu Group for imported iron ore, achieving a breakthrough in cross-border digital renminbi payments in the bulk commodity sector; during the 7th China International Import Expo, in collaboration with Shanghai Public Transport Card Co., Ltd., it held a product launch event for the "Smart Travel Card" within the expo venue, continuously expanding the application of digital renminbi in multiple scenarios.

ChainCatcher news, according to Hong Kong Wen Wei Po, mainland investors are restricted when bringing cash back to the mainland after cashing out virtual currency in Hong Kong. The customs regulations now state that each person can carry a maximum of 20,000 yuan each time. If bank transfers are involved, issues related to the source and use of funds must comply with national legal and regulatory policies. A virtual asset exchange store near Tsim Sha Tsui MTR station stated that customers need to provide identification if the amount exceeds 10,000 Hong Kong dollars, whether buying or cashing out.

ChainCatcher news, according to China Business News, HarmonyOS has announced the establishment of an open ecosystem for meta-services, which includes digital renminbi. This means that HarmonyOS users can use the corresponding services without downloading the digital renminbi app, allowing them to make payments with digital renminbi as soon as they get their phones, innovatively achieving a deep integration of legal digital currency functions with the mobile operating system.It is understood that in terms of cooperation with the HarmonyOS system, the next step for digital renminbi will be to strengthen its deep integration with the HarmonyOS system, enrich the application and management functions of the digital renminbi wallet, jointly develop financial middleware, and support interaction with other financial applications, thereby providing safer and more convenient digital renminbi services. At the same time, it will enhance risk monitoring and risk prevention capabilities, using security detection technology to ensure the authenticity and reliability of the mobile operating environment, while protecting user privacy and security, improving the central bank's penetrating regulatory capabilities for digital renminbi, and achieving comprehensive business management and risk prevention. In addition, digital renminbi will help HarmonyOS strengthen its financial service ecosystem, covering more smart IoT devices through the integration of digital renminbi and open-source HarmonyOS.It is understood that through cooperation with HarmonyOS, digital renminbi will form a replicable and promotable model, advancing in-depth cooperation with other domestic mobile phone manufacturers, achieving the embedding of digital renminbi in a componentized form within the underlying operating systems of domestic phones, and building central bank management capabilities that adapt to the open ecosystem of digital renminbi. On this basis, it will continuously improve the cooperation model with mobile phone manufacturers and operating system vendors, creating a collaborative and win-win ecosystem.