[Mu Changchun: Rapid Development of Stablecoins and Various Cryptocurrencies, Multilateral Central Bank Digital Currency Bridge Reaches Nearly 500 Billion Yuan in Cumulative Transactions] According to a report by Jinse Finance, on June 26, Mu Changchun, Director of the Digital Currency Research Institute of the People's Bank of China, delivered a speech titled 'Central Bank Digital Currency Reshaping Cross-Border Payments' at the 2026 Summer Davos Forum. He stated that new variables have emerged in the international monetary system, with the rapid development of stablecoins and various cryptocurrencies, pushing the global cross-border payment system into a new stage of development. Mu Changchun revealed that since the Currency Bridge successfully entered the phase of real transaction continuous operation in June 2024, the platform's cumulative transaction volume had reached nearly 500 billion yuan by the end of 2025. Its ultimate goal is to develop into a new type of financial market infrastructure (FMI) co-built by central banks under a multilateral governance and mutually beneficial model, with participation from financial institutions.