The article "Offshore RMB stablecoin is about to emerge: Can it challenge the hegemony of the US dollar?" systematically summarizes the background, policy progress, and path of the accelerated landing of RMB stablecoins in Hong Kong, pointing out that giants such as JD.com and Ant have applied for licenses, and Hong Kong has also taken the lead in completing legislation to establish a regulatory framework. The article clarifies common misconceptions about stablecoins, emphasizing that their essence is an on chain mapping of fiat currencies, not decentralized currencies. In the internationalization strategy of the Chinese yuan, offshore stablecoins are highly anticipated as an important tool to improve cross-border payment efficiency and challenge the dominant position of the US dollar. However, they also face multiple challenges such as trust, systems, compliance, and network effects. read the whole passage: https://mp.weixin. (qq.com)/s/d3iKmzPdtB2lHO_k5_uXnw