The central bank is beginning to seriously examine stablecoins, and the landscape of cross-border payments may change.

According to The Paper, Wang Xin, Director of the Research Bureau (Counselor's Office) of the People's Bank of China, stated at the 2026 Lujiazui Forum that the next step is to further ensure the security, neutrality, and efficiency of the international payment system, promote interconnection between the central bank's payment system and retail payment systems, and cautiously and prudently explore the potential of new payment tools. Wang Xin said that attention should be paid to the impact of stablecoins on the international monetary system and cross-border payments, improve regulatory rules, and promote international payments. He also pointed out that whether stablecoins will play a more important role in cross-border payments, the prospects for cross-border use of central bank digital currencies, and related regulation and international coordination and cooperation are all worth continued observation.