The New Payment Revolution in the Global Monetary System: The Rise of Offshore Renminbi Stablecoin

The world of currency is undergoing a silent transformation. With the continuous growth of cross-border transaction demands, regulatory frameworks in various countries are gradually becoming clearer, and the offshore RMB stablecoin has welcomed important development opportunities.

At a Web3 development conference held in Shanghai, the founder of AnchorX detailed the practices and future trends of offshore RMB stablecoin. From Hong Kong to Central Asia, and along the "Belt and Road" countries, a new digital Silk Road is being paved. This is not only a business innovation but also a strategic layout for the diversification of the global monetary system.

Thoughts on Cryptocurrency in the Context of Traditional Finance

The founder of AnchorX worked at a well-known investment institution in his early years and has nearly twenty years of financial and investment experience. At the end of 2022, he and his team judged that after exchanges, stablecoins are likely to become the next significant opportunity in the cryptocurrency industry.

As the "infrastructure" connecting traditional finance and the crypto world, stablecoins can improve cross-border payment efficiency and reduce settlement costs. However, to truly take off, "compliance" will be the determining factor.

Against this backdrop, Hong Kong's policy direction has become key. As an international financial center, Hong Kong not only has a well-recognized regulatory environment but also retains operational space for financial innovation. At the end of 2023, relevant departments in Hong Kong issued a stablecoin regulatory consultation document, laying the foundation for policy advancement.

AnchorX was established in Hong Kong in 2023, focusing on the stablecoin sector. The company's rapid development is attributed to the dual support from traditional finance and the blockchain industry. An investment institution provides resources and business synergy for AnchorX, while a high-performance, low-cost blockchain platform offers technical assurance for its stablecoin practices.

From Kazakhstan to Hong Kong: The Practical Journey of Stablecoins

Against the backdrop of rapidly changing global regulatory environments, AnchorX has chosen a pragmatic compliance path. In early 2025, faced with the incomplete regulatory framework in Hong Kong, AnchorX took the lead in expanding overseas. In May, Kazakhstan's financial regulators officially approved AnchorX to operate a license for a stablecoin pegged to offshore Renminbi, marking the first official license related to stablecoins issued in the country.

This layout is highly in line with the "Belt and Road" initiative. Kazakhstan is one of China's most important trade and economic cooperation partners in Central Asia. AnchorX's layout subsequently extends to the five Central Asian countries, providing stablecoin solutions for cross-border settlement scenarios in the relevant regions.

As the world's largest offshore renminbi trading center, Hong Kong will be the focus of AnchorX's long-term strategy. The company has been in communication with the Hong Kong Monetary Authority and plans to submit a formal stablecoin license application.

Reconstructing Cross-Border Payments: The Advantages of Offshore Renminbi Stablecoin

Compared to the traditional SWIFT system, stablecoins demonstrate overwhelming advantages in cross-border settlement efficiency. SWIFT is essentially an information flow system, where the information flow is separated from the capital flow, and a fund transfer often takes 3-6 days to arrive.

Based on a blockchain technology architecture, AnchorX's solution directly connects information flow and capital flow, achieving almost instant fund transfers. The settlement speed is on the order of seconds, generally completing confirmation within one minute, resulting in a significant increase in efficiency.

Compared to the US dollar stablecoin, offshore RMB stablecoin better meets the actual needs of Chinese enterprises' global layout. Many Chinese companies still have their cost centers in China when promoting overseas business, and using the US dollar means they ultimately still need to exchange back to offshore RMB, which results in an additional foreign exchange loss. Stablecoins directly pegged to offshore RMB can simplify the process and bring substantial savings to enterprises.

The Global Landscape of the Era of Multi-Polar Stablecoins

Currently, the US dollar stablecoin dominates the market. However, this singular pattern will not last in the long term. In the future, if sovereign currencies are mapped as stablecoins in some form, the international monetary system is likely to evolve towards a multipolar structure centered around several important sovereign currencies. The euro, the renminbi, especially the offshore renminbi, will gradually increase their share in the stablecoin market.

This trend has already been reflected at the regulatory level. Economies such as Hong Kong, the United States, the European Union, the United Kingdom, and Singapore have successively incorporated digital currencies into their regulatory frameworks. The improvement of the regulatory framework has cleared obstacles for the growth of non-USD stablecoins.

The data shows that the offshore RMB currently accounts for about 5% of the SWIFT payment system. If the stablecoin market reaches a scale of 2 trillion USD in the future, the potential space for offshore RMB stablecoin could be as high as several hundred billion USD.

AnchorX's goal is not only to become a stablecoin issuer but also to build an international payment network based on offshore RMB. The company hopes to leverage Hong Kong, the world's largest offshore RMB settlement center, as a starting point to support outbound enterprises in connecting more efficiently with countries along the "Belt and Road".

Conclusion: The Eastern Narrative of the New Order of Digital Currency

The power landscape of digital currency is being reconstructed. Regulatory actions around the world outline the underlying logic of a reshuffle in the global monetary system. The future trend is not disruption, but diversification. A market space worth "hundreds of billions" is enough to accommodate multiple independent ecosystems that are not dependent on the dollar system.

In this global competition centered around technology, regulation, and currency, enterprises targeting international markets are transforming from rule adaptors to practitioners, participants, and co-builders of innovative technological solutions. The curtain on the era of multipolar stablecoins may be quietly lifting.