CICC: Internet companies have advantages in the layout of stablecoins

According to HT's report, CICC released a research report stating that it judges the impact of stablecoin popularity on existing businesses like WeChat Pay is limited. Domestic third-party payment is essentially a "quasi-stablecoin" mechanism anchored to the RMB, relying on legal reserve guarantees to maintain currency stability, and with domestic rates as low as a few thousandths, far superior to overseas platforms' percentage rates. Therefore, they believe that under the current efficient and low-cost mature third-party payment system, the necessity of independent blockchain stablecoins' popularity in China is not high, thus the impact on existing businesses is limited. On the other hand, internet companies related to cross-border payments are more actively deploying in the stablecoin field. They believe internet companies have advantages in stablecoin layout: user scenarios (companies like Amazon own hundreds of millions of users and mature payment scenarios, enabling quick stablecoin application promotion); technical capabilities (internet companies possess technical R&D capabilities); ecosystem synergy (B-side "supply chain" + C-side "retail payment" closed loop can enhance stablecoin network effects).