digihuman(BJ:835670) Xuan Gu Bao·2025-06-23 02:28Group 1: Market Trends - The digital currency and cross-border payment sectors experienced a collective surge on June 23, with companies like Jida Zhengyuan, Hailian Jinhui, and Shenzhou Information hitting the daily limit up, while others like Youbuxun and Advanced Shutong saw intraday gains exceeding 10% [1] - The "stablecoin first stock" Circle continued its upward trend, soaring over 20% to $240.28, marking a cumulative increase of over 650% since its IPO [3] Group 2: Regulatory Developments - A Securities Times article emphasized the global wave of stablecoins and suggested that proactive regulation in China could accelerate the internationalization of the Renminbi [3] - The launch of the cross-border payment system between Hong Kong and mainland China on June 22 signifies a new era in cross-border payments, allowing real-time remittances between residents of both regions [3] Group 3: Institutional Insights - Circle's IPO is seen as a significant milestone for the stablecoin business model, indicating its acceptance in traditional capital markets, with projected annual revenue of $1.676 billion by the end of 2024, primarily from interest on USDC reserve assets [4] - Stablecoins offer advantages over traditional cross-border payment systems, including efficiency, lower costs, and transparency, with blockchain-based payments completing transactions in under one hour compared to traditional methods that can take up to five days [4][6] Group 4: Cost Analysis - The average cost of traditional cross-border remittances was reported at 6.35% in Q1 2024, while sending stablecoins via high-performance blockchains like Solana costs approximately $0.00025, with BinancePay offering even lower fees for larger transactions [5] Group 5: Future Outlook - The cross-border payment system's launch is expected to enhance payment efficiency and service levels between mainland China and Hong Kong, with stablecoins likely to become a significant method for global cross-border payments in the long term [6] - The Hong Kong stablecoin legislation paves the way for offshore Renminbi stablecoins, supported by a substantial offshore liquidity pool, which could validate practical use cases for cross-border settlements [6]