OKCoin is also on the stablecoin bus? Xu Mingxing said that OKCoin USA will participate in the launch of compliant stablecoins

On October 10, Xu Mingxing, who was besieged by investors and caught up in the "ten yuan steamed stuffed bun" scandal, said on his Weibo:

Embracing the tide of technology and launching the CNH stable currency is an unavoidable trend, and it will greatly improve the penetration of RMB internationalization.Weibo

Image Source:Weibo

Regarding stablecoins, yesterday (October 9), the magazine China Finance, which is in charge of the People's Bank of China, published an article titled"Brief Analysis of Digital Stable Tokens"article, expressingSupport domestic institutions to issue RMB stable currency, and at the same time suggest that "according to the latest research results of other countries' central banks, launch an experimental central bank legal digital currency within a certain range".

Regarding this article, Xu Mingxing stated in the circle of friends that"It will be too late if you don't wake up."

Looking at it now, this wave of stablecoins has not subsided.The popularity of stablecoins can be traced back to last month. On September 10, the New York Monetary Authority approved two stablecoins based on Ethereum, namely Gemini Dollar (GUSD) from Gemini and Paxos Standard from Paxos. Unlike previous encrypted digital currencies, this is the first digital currency regulated by financial regulators.

After the news is published, theMany media hotly discussmediamediamediamediaFrom the perspective of the level of supervision, it is believed that the regulatory agencies involved this time are not institutions with national effectiveness such as the Federal Reserve and the SEC, so this incident is just a small innovation.

SeptemberSeptember, a total of 15 institutions have launched 13 stablecoins, most of which are anchored to the U.S. dollar, and some are also anchored to offshore renminbi, Australian dollar, Japanese yen, and gold.

expressexpress, the stable currency/legal digital currency is the most important infrastructure of the blockchain industry. It compares the stable currency to the blockchain industry to the Internet payment to the Internet industry. It is expected that there will be a lot of legal digital currency and stable currency blockchain applications soon, and saidHuobi will also incubate a blockchain application based on stable currency (no currency issued by itself) as an attempt.

In addition to exchanges and accounting firms, stablecoins are launched.recentlyclarifyclarifytext

Currently, stablecoinsThe market size is still small. For example, the market value of USDT ranks 8th among all digital currencies, about 2.7 billion US dollars, accounting for 1.2% of the total market value of digital currencies.Stablecoins still need time to develop. How to ensure price stability and how to generate consensus among more people will be the problems that need to be solved.