CITIC Securities: The development of cryptocurrencies and Hong Kong stablecoins will promote the internationalization of the RMB and cross-border payments

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According to Foresight News, CITIC Securities released a report stating that global stablecoin policy and industry sides continue to exert force, and the industry ecosystem continues to flourish. The development of cryptocurrencies and stablecoins in the Hong Kong region will significantly promote RMB internationalization and cross-border payments, and it is recommended to pay attention to cross-border payment-related targets.

According to incomplete statistics from Securities Times, in just the past week (June 15-21), at least 16 securities firms have issued over 24 research reports comprehensively studying stablecoins, covering multiple industry perspectives including macroeconomics, computers, media and internet, finance, and blockchain. Some securities firms have launched stablecoin special topics and in-depth research, such as Guojin Securities, Zhongtai Securities, Dongwu Securities, and Tianfeng Securities. CITIC Securities' macro, overseas, banking, and non-banking research teams have conducted in-depth research from various industry angles. Meanwhile, since June, multiple stablecoin concept stocks have been subject to concentrated institutional research.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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