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稳定币快速发展的生机与隐患
Di Yi Cai Jing· 2025-07-27 13:40
Core Viewpoint - The recent passage of two significant bills in the U.S. and Hong Kong has granted legal status to stablecoins, eliminating policy uncertainty and promoting their development, which is expected to invigorate the payment industry, digital asset sector, and the global financial system [1][2]. Regulatory Framework - Both bills clarify the positioning of stablecoins and regulate their activities, requiring a 1:1 backing with reserve assets limited to fiat or other low-risk, high-liquidity assets [2] - Interest payments on stablecoins are prohibited, reinforcing their payment attributes and distinguishing them from traditional investment products [2] - Issuers face stricter legal constraints, with only licensed entities allowed to operate stablecoin businesses in Hong Kong [2] - Regular disclosure of reserve asset reports and compliance with anti-money laundering regulations are mandated to enhance market transparency and protect investor rights [2] Impact on Payment Systems - Stablecoins are expected to reduce costs and improve efficiency in the global payment system, serving as an ideal payment tool for various transactions, especially cross-border and cryptocurrency transactions [3] - A report predicts that by 2030, the global supply of stablecoins could reach $3.7 trillion, with market capitalization growing from hundreds of billions to trillions of dollars, positioning stablecoins at the core of cross-border payments and digital asset transactions [3] Innovation in Digital Assets - Compliant stablecoins connect the real and virtual worlds, facilitating the flow of traditional capital into the Web3 space and enabling the tokenization of real-world assets (RWA) [4] - The RWA market is currently valued at $268.16 billion, with over 90% of this value attributed to stablecoins, indicating a significant role in attracting investors to the digital asset sector [4] Risks Associated with Stablecoins - The rapid development of stablecoins poses liquidity risks, as their stability relies heavily on the quality of reserve assets, which could lead to large-scale redemption crises if confidence wanes [5] - Technical risks are inherent due to the blockchain technology underpinning stablecoins, with historical incidents of hacks and system failures highlighting vulnerabilities [6] - Regulatory costs may rise significantly due to the lack of a unified global framework, creating opportunities for regulatory arbitrage and compliance challenges [7] - The widespread use of stablecoins could threaten the dominance of traditional banking by reducing commercial deposits and altering the payment landscape [7] Strategic Recommendations for China - China should leverage Hong Kong as a pilot for stablecoin development, attracting global compliant projects to enhance the internationalization of the Renminbi [9] - A robust risk management framework and legal regulations are essential to control the circulation of stablecoins domestically while ensuring sustainable development [9] - Structural reforms are necessary to restore global confidence in China's growth and to adapt to the evolving digital landscape, ultimately supporting the internationalization of the Renminbi [9]
多地发布风险提示—— 防范披着“稳定币”马甲的骗局
Jing Ji Ri Bao· 2025-07-26 22:26
7月以来,多地金融管理部门、行业自律组织等接连发布风险警示公告提示,随着稳定币概念的升温, 一些不法分子以稳定币为噱头进行的非法活动有所冒头,其潜在风险值得高度警惕。 要避免上当受骗,首先需要搞明白什么是稳定币。稳定币是一种锚定真实资产的数字货币,其价值通常 与某种法定货币、商品或其他资产挂钩。不少投资者表示困惑:"既然都是加密货币,那稳定币跟之前 很火的比特币一样吗?"答案是否定的。 上海金融与发展实验室主任曾刚介绍,二者的主要区别体现在价值锚定机制、价格波动性、应用场景等 方面。其一,价值锚定机制不同。稳定币通常与法定货币或其他稳定资产挂钩,1枚稳定币的价值等同 于1单位锚定资产,从而保持价格稳定;而比特币属于"原生加密货币",其价值完全取决于市场供需, 没有任何实物或法币资产作为支撑,因此波动性极大。 其二,价格波动性区别明显。稳定币旨在抑制波动,适合作为价值存储和交易媒介;比特币则追求"去 中心化的数字黄金"定位,价格受市场情绪、宏观经济和政策消息驱动,涨跌幅度剧烈。此外,应用场 景亦有差异。稳定币常用于数字资产交易的计价、资金结算、跨境转账等场景;比特币则被视为长期投 资或价值储备工具。 中国邮政储 ...
中国碳中和(01372.HK):碳信用稳定币协定Carbon Coin完成数据对接 二十万吨碳信用成功上链
Ge Long Hui· 2025-07-25 10:25
Core Viewpoint - The completion of data integration for the Carbon Coin agreement marks a significant step for the company in the digitalization of carbon credits, enabling effective management and trading through blockchain technology [1][2][3] Group 1: Carbon Credit Digitalization - The Carbon Coin agreement has successfully integrated data with carbon credit sources, facilitating the on-chain representation of 200,000 tons of carbon credits [1] - The integration allows for real-time synchronization, information exchange, and verification of carbon credit data, ensuring accuracy and consistency during transactions [1][2] Group 2: Technological Advancements - The dual-chain model of "Green Trust Chain (alliance chain) + public chain" enhances decentralization, security, immutability, and traceability throughout the carbon credit lifecycle [2] - Smart contracts automate the registration, confirmation, and management of carbon credits, reducing transaction cycles from weeks to minutes [2] Group 3: ESG Commitment and Market Impact - The initiative reflects the company's commitment to Environmental, Social, and Governance (ESG) principles and showcases its technological innovation in carbon asset digitalization [3] - The on-chain confirmation of carbon credit data is expected to promote transparent trading, market pricing, and healthy development of green asset financing, benefiting the overall financial ecosystem for green assets [3]
瑞和数智(03680.HK)批准总额8000万港币预算 用于发展Web3.0业务和投资加密货币资产
Ge Long Hui· 2025-07-24 11:06
Group 1 - The company, 瑞和数智, has announced a budget of HKD 80 million to develop its Web 3.0 business and invest in cryptocurrency assets over the next two years [1] - This investment plan marks the company's first step into the Web 3.0 and cryptocurrency asset sectors, responding to supportive policies from the Hong Kong government [1] - The company recognizes the transformative impact of digital currencies and blockchain technology on the global financial landscape, highlighting the strong growth potential of the global digital asset market [1] Group 2 - The investment plan will focus on digital assets that comply with applicable laws and regulatory standards, including cryptocurrencies and real-world asset projects [2] - The company aims to accelerate the on-chain transformation of its traditional financial services and establish a favorable position in the digital financial ecosystem [2] - The board believes that the strategic investment in cryptocurrency assets aligns with the global trend towards digital asset institutionalization and the evolving regulatory framework [2]
瑞和数智(03680)正式布局Web3.0和加密货币资产领域
智通财经网· 2025-07-24 11:03
Group 1 - The company, 瑞和数智, has announced a budget of 80 million HKD to develop its Web3.0 business and invest in cryptocurrency assets over the next two years [1] - The cryptocurrency asset investment plan marks the company's first step into the Web3.0 and cryptocurrency asset sectors, responding to the Hong Kong government's supportive policies for these industries [1][2] - The company aims to leverage its advantages in technology and resources to explore innovative business models and accelerate growth in the financial technology sector [3] Group 2 - The investment plan will focus on digital assets that comply with applicable laws and regulatory standards, including cryptocurrencies and real-world asset projects [2] - The company intends to cultivate on-chain financial resources to facilitate the transformation and innovation of traditional financial services [2] - The board believes that the strategic investment in cryptocurrency assets aligns with the global trend of asset digitization and has significant potential and value [3]
瑞和数智(03680) - 自愿性公告 — 加密货币资產的战略投资
2025-07-24 10:59
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責,對其準確性或完整性亦不發表任何聲明,並明確表示,概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考,不構成對本公司任何證券的收購、購買或認購的邀請或要約。 Ruihe Data Technology Holdings Limited 瑞和數智科技控股有限公司 本 集 團 的 加 密 貨 幣 資 產 投 資 計 劃 主 要 是 投 資 於 符 合 相 關 適 用 法 律 及 監 管 標 準(包 括 香 港 證 券 及 期 貨 事 務 監 察 委 員 會 的 標 準)的 數 字 資 產,包 括 數 字 貨 幣、加 密 貨 幣、RWA現 實 世 界 資 產 項 目 和╱或 其 他 相 關 資 產 管 理 產 品 等。本 集 團 擬 通 過 培 育 發 展 鏈 上 金 融 資 源,加 速 公 司 傳 統 金 融 服 務 的 鏈 上 化 轉 型 與 創 新,佔 據 數 字 金 融 生 態 發 展 的 有 利 地 位。本 集 團 擬 聚 焦 在 大 中 華 區 來 佈 局 數 字 資 產 服 務, ...
为什么要发明加密货币?
Sou Hu Cai Jing· 2025-07-24 04:03
Core Concept - The article discusses the rise and significance of cryptocurrencies, particularly Bitcoin, as a decentralized digital asset that operates independently of central banks and government institutions [1]. Group 1: Definition and Characteristics of Cryptocurrencies - Cryptocurrencies are digital assets based on blockchain technology, with Bitcoin being the most representative example [1]. - Key features of cryptocurrencies include being digital, decentralized, cryptographically secure, and utilizing blockchain technology for transparent transaction records [1]. Group 2: Motivation Behind Cryptocurrency Creation - The invention of cryptocurrencies was motivated by a loss of trust in traditional financial systems, especially after the 2008 financial crisis, leading to the desire for a currency system independent of banks and governments [1]. Group 3: Bitcoin Transaction Mechanism - Bitcoin transactions differ from traditional banking as they are decentralized and rely on a distributed network rather than a central authority [3][5]. - Each Bitcoin transaction is recorded in a "block," and multiple blocks form a "blockchain," which is a shared ledger maintained by all network participants [4][5]. Group 4: Bitcoin Mining and Supply - Bitcoin is generated through a process called "mining," where miners solve complex mathematical problems to validate transactions and earn new bitcoins as rewards [6][7]. - The total supply of Bitcoin is limited, making it akin to "digital gold" [7]. Group 5: Other Cryptocurrencies and Their Functions - The success of Bitcoin has led to the emergence of various other cryptocurrencies, such as Ethereum and Ripple, each serving different market needs [7][8][10]. - Ethereum, for instance, supports decentralized applications through its smart contract platform, expanding the use cases of blockchain technology [8][9]. Group 6: Future Trends in Cryptocurrency - Key trends in the cryptocurrency space include the development of central bank digital currencies (CBDCs), increasing institutional adoption, technological upgrades to address energy consumption and transaction speed, and the establishment of regulatory frameworks [10][11]. - The disruptive potential of cryptocurrencies lies in their ability to reconstruct trust systems and provide individuals with financial freedom, prompting traditional finance to evolve [11].
美SEC对Bitwise基金最新决策引关注,XBIT借区块链稳发展
Sou Hu Cai Jing· 2025-07-24 02:33
Group 1 - The SEC's decision to postpone the ruling on Bitwise's proposal to convert its cryptocurrency index fund into an ETF has created uncertainty in the cryptocurrency market, prompting investors to reassess their strategies [1][2][9] - XBIT decentralized exchange platform leverages blockchain technology to provide a stable trading environment, distinguishing itself from traditional centralized exchanges by utilizing smart contracts for automated execution of trades [2][4][6] - The decentralized nature of XBIT allows for transparent and immutable transaction records, enhancing trust and reliability for investors [2][4] Group 2 - XBIT's platform addresses increasing demands for security, convenience, and cost control in trading, utilizing blockchain's encryption algorithms to protect user assets and transaction information [4][6] - The platform's lower transaction fees result from reduced intermediary processes, benefiting frequent traders by minimizing costs [4][6] - XBIT supports a variety of mainstream cryptocurrencies and enables cross-chain transactions, making it user-friendly for both novice and experienced traders [4][7] Group 3 - XBIT's governance model incorporates community participation in decision-making, enhancing user engagement and trust while mitigating decision-making risks [6][9] - The platform has implemented a risk warning mechanism that monitors transaction data and market information in real-time, providing timely alerts to users during market fluctuations [6][9] - XBIT's continuous exploration of blockchain applications aims to optimize transaction confirmation speeds and improve cross-chain trading efficiency, enhancing user experience [7][9]
常州数据交易有限公司成立,注册资本3000万人民币
Sou Hu Cai Jing· 2025-07-23 16:34
Group 1 - Changzhou Data Trading Co., Ltd. has been established with a registered capital of 30 million RMB, and the legal representative is Hu Ning [1] - The shareholders of the company include Changzhou Data Group Co., Ltd. holding 66.67% and Changzhou Science and Education City Investment Holding Group Co., Ltd. holding 33.33% [2] - The business scope includes internet information services, big data services, data processing services, artificial intelligence public data platforms, and various technology services [2] Group 2 - The company is classified under the national standard industry of information transmission, software, and information technology services [2] - The registered address of the company is located at No. 18 Changwu Middle Road, Wujin District, Changzhou, Jiangsu Province [2] - The business license allows the company to engage in investment activities with its own funds, except for projects that require approval [2]
未来数据集团(08229)拟推出基于国画《浩气长流》的数字收藏品
智通财经网· 2025-07-23 12:31
Group 1 - The company has entered into two agreements to obtain exclusive rights to issue and launch digital collectibles based on the epic painting "浩气长流" [1] - The agreements are effective from July 7, 2025, to July 7, 2026, with the current valuation of the rights held by the licensor at RMB 36 million [1] - If the valuation report determines a value below RMB 30 million, the licensor has the right to unilaterally terminate the issuance of the digital collectibles [1] Group 2 - The painting "浩气长流," created by a team of over 50 Chinese artists led by Wang Kang, depicts the resistance of over 800 Chinese people during the Sino-Japanese War [2] - The agreement signifies an important advancement for the company in the cultural technology and digital asset sectors, aiming to preserve and promote Chinese historical culture through modern digital forms [2] - The company seeks to expand its business footprint in the Real World Asset (RWA) industry and explore innovative applications of digital collectibles and blockchain technology [2]