Odaily News Ripple announced its participation in the Monetary Authority of Singapore's (MAS) BLOOM program, testing the application of its RLUSD stablecoin in cross-border trade payments within the regulatory sandbox. Ripple is collaborating with supply chain finance technology provider Unloq to pilot a system based on the XRP Ledger. This system uses RLUSD to automatically trigger cross-border trade payments when preset conditions (such as shipment verification) are met, aiming to replace the traditional trade finance processes that rely on manual verification and correspondent banking relationships.The pilot utilizes Unloq's SC+ platform to integrate trade obligations, settlement conditions, and financing workflows into a single execution layer, with RLUSD on the XRP Ledger facilitating the fund flows. This marks Ripple's third significant move within three weeks, following the company's expansion of Ripple Payments into a full-stack stablecoin infrastructure platform and its acquisition of an Australian financial services license.

According to Odaily Planet Daily, the General Office of the State Financial Supervision and Administration Bureau recently issued the "Implementation Plan for High-Quality Development of Digital Finance in the Banking and Insurance Industries," aiming to drive the improvement of the quality and efficiency of financial services through digital technology and data elements. Regarding services to advanced manufacturing, the plan requires strengthening credit support for the digital transformation of manufacturing, utilizing big data, blockchain, and other technologies to regulate the development of supply chain finance, and actively connecting with the financing needs of upstream and downstream enterprises in the industrial chain. Meanwhile, the plan requires financial institutions to actively explore innovative applications of cutting-edge technologies such as blockchain, quantum computing, BeiDou satellite technology, and virtual reality/augmented reality in the financial field.

Odaily Planet Daily reported today that the Beijing Business Daily published an article titled "Speculation Resurfaces, People's Bank of China Cracks Down on Virtual Currencies Again, Defines Stablecoins for the First Time," which pointed out that at a recent meeting of the coordination mechanism for combating virtual currency trading and speculation, the People's Bank of China defined stablecoins for the first time. It clarified that stablecoins are a form of virtual currency and currently cannot effectively meet requirements for customer identification and anti-money laundering, posing a risk of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers. The article reiterated the continued crackdown on illegal financial activities related to virtual currencies. However, industry insiders believe that this meeting will not affect the development of stablecoins in Hong Kong, but stablecoin speculation in mainland China will be severely punished. The potential for domestic entities to develop stablecoins in Hong Kong will be greatly reduced, limited to practical applications such as cross-border payments and supply chain finance.

Odaily Planet Daily reports that Shanghai Municipal Party Secretary Chen Jining, while visiting the Shanghai headquarters of the People's Bank of China, emphasized the need to seize opportunities presented by digitalization and intelligentization to jointly promote financial innovation and transformation. He emphasized optimizing and improving regulatory systems and working mechanisms, clarifying risk control requirements and entry standards, and supporting the development and in-depth application of multi-agent technologies. He emphasized guiding more financial institutions to integrate and utilize blockchain technology, and jointly developing supply chain finance based on a secure and reliable credit system. He emphasized establishing a financial risk monitoring and early warning system based on blockchain technology to better prevent and mitigate risks in key areas. (People's Bank of China Shanghai Headquarters Official Account)

Odaily News The Party Committee of the Shanghai State-owned Assets Supervision and Administration Commission held a study meeting of the central group on July 10 to study the development trends and response strategies of cryptocurrencies and stablecoins. He Qing, Secretary of the Party Committee and Director of the Shanghai State-owned Assets Supervision and Administration Commission, pointed out that it is necessary to fully implement the spirit of the Seventh Plenary Session of the 12th Municipal Party Committee, adhere to innovation-driven development, maintain a keen sense of emerging technologies, and strengthen research and exploration of digital currencies. Adhere to the integration of production and numbers, and explore the application of blockchain technology in cross-border trade, supply chain finance, and asset digitization. Persist in hard work and improve strategic agility and strategic initiative, further promote the deep integration of science and technology, finance, and industry, better play the important role of state-owned assets and state-owned enterprises in scientific and technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's "five centers." (Cailianshe)

Odaily News The Central Financial Committee issued the "Opinions on Supporting the Acceleration of the Construction of Shanghai International Financial Center", which proposed to strengthen the construction of a unified financing credit service platform and support financial institutions to use blockchain and other technological means to develop supply chain finance. Serve the development of a multi-level and multi-pillar pension insurance system. Build a high-quality global financial technology center. Promote financial support for higher-quality integrated development in the Yangtze River Delta. (Xinhua News Agency)

Odaily News China Securities Depository and Clearing Corporation Limited (CSDC) has cooperated with Ant Chain and CITIC Bank to register, verify and transfer inter-enterprise accounts receivable (supply chain finance) on the chain, and tokenize them, converting the accounts receivable of small and micro suppliers to large enterprises into digital certificates, which are transferred to financial institutions for financing in real time. (Wen Wei Po, Hong Kong)

Odaily News CITIC Securities Research Report believes that recently, Hong Kong, China and the United States have both promoted the legislative process of stablecoin-related bills to varying degrees. Stablecoins can provide a stable trading method for RWA token assets, enhance market liquidity, and help promote the further implementation of RWA issuance projects by mainland Chinese companies in Hong Kong. At the same time, the Stablecoin Act is expected to indirectly promote the construction of digital currency-related payment and settlement interfaces in the Hong Kong financial industry, and financial IT companies with experience in digital currency/digital RMB cross-border settlement and supply chain financial projects are expected to benefit. Huaxi Securities said that RWA will become the core hub linking the real economy and digital finance. In the future, RWA tokens will be expanded to more subdivided scenarios, such as carbon assets, supply chains and intellectual property rights, and superimposed with AI and large models on the chain to achieve automatic valuation and intelligent liquidation, activating the digital liquidity of trillion-level physical assets. (Cailianshe)

Odaily News CITIC Securities Research Report stated that Hong Kong and the United States have recently promoted the legislative process of stablecoin-related bills to varying degrees. Stablecoins can provide a stable currency value trading method for RWA token assets, enhance market liquidity, and help promote the further implementation of RWA issuance projects by mainland companies in Hong Kong; at the same time, the stablecoin bill is expected to indirectly promote the construction of digital currency-related payment and settlement interfaces in the Hong Kong financial industry, and financial IT companies with experience in digital currency/digital RMB cross-border settlement and supply chain financial projects are expected to benefit. (Jinshi)

Odaily星球日报讯 加密资产创新实验室 SuperFi Labs 宣布完成 250 万美元融资，供应链金融科技上市公司联易融（Linklogis）领投，SNZ、Taiko、ByteTrade 等参投。此前，Generative Ventures 作为早期投资人对其进行了天使轮的投资，新将用于产品研发、市场拓展以及团队建设，推动资产端 RWA 产品和资金端 Defi 产品的上线。