PBoC’s Wang Xin: Closely Monitor the Impact of Stablecoins on the International Monetary System and Cross-Border Payments

CoinFeed, June 17 – According to a report by The Paper, on the afternoon of June 17, Wang Xin, Director-General of the Research Bureau (Counsellors’ Office) of the People’s Bank of China, spoke at the 2026 Lujiazui Forum’s “Plenary Session II: Global Financial Governance Reform and Cooperation” about the cross-border payment system. He stated that the next step is to further ensure the security, neutrality, and efficiency of the international payment system, and to strengthen interconnectivity between central bank payment systems and retail payment systems. It is necessary to prudently and steadily explore the potential of new payment instruments, closely monitor the impact of stablecoins on the international monetary system and cross-border payments, improve regulatory rules, and promote more inclusive, efficient, and resilient international payments, in order to better support sustainable development and world economic growth.