李鸣：稳定币是支付工具，不是理财产品

Core Insights - The event "25th Investment Fair · Phoenix Network Wutong Night Talk" focused on investment opportunities and industry trends in the context of global dynamics [1] - Li Ming, Executive President of the Hong Kong Web 3.0 Standardization Association, provided insights on stablecoins, defining them as digital equivalents of traditional currencies used for transactions in blockchain environments [1][2] Summary by Sections Definition and Characteristics of Stablecoins - Stablecoins are designed to maintain stable value, often pegged to fiat currencies like the US dollar or Hong Kong dollar, unlike volatile cryptocurrencies [1] - They are not investment products but payment tools, backed by fiat assets held in third-party custody to ensure redemption capability [1] Applications and Use Cases - The choice of stablecoin depends on the specific use case; for instance, USD stablecoins are prevalent in North America, while offshore RMB stablecoins could be beneficial along the Belt and Road Initiative [2] - Stablecoins can significantly reduce costs and enhance efficiency in cross-border trade, facilitating faster transactions compared to traditional methods [2] Regulatory Environment and Future Outlook - The regulatory framework for stablecoins is still evolving, with different countries implementing varying regulations and requiring issuers to obtain licenses [1][3] - Over the next 5 to 8 years, stablecoins are expected to become a crucial financial infrastructure for the next generation of the internet (Web 3.0) as technology matures and regulatory frameworks develop [3]