Monero faces network takeover attempt by mining pool Qubic, sparking community backlash

Key Takeaways: Industrial Bank links stablecoin research with AI under China’s digital finance agenda. Zhu Guangyao calls dollar stablecoins a new Bretton Woods mechanism. Stablecoin infrastructure may become central to Belt and Road trade integration. China Industrial Bank will prioritize research into stablecoins and expand its “AI+” initiative, according to a report published by Shanghai Securities News . At its mid-year work conference, the bank outlined plans to accelerate the shift from a “Digital Industrial Bank” to a “Smart Industrial Bank.” It said the effort will be supported by the “Data Elements X” program and measures to strengthen digital infrastructure. Stablecoin and AI for “Smart Industrial Bank” Industrial Bank said it will focus on refining management capabilities. Plans include deepening client engagement, optimizing liability costs, and enhancing its regional branch network. The institution also noted it would adjust its risk appetite and reinforce accountability across management levels. By combining stablecoin research with AI applications , the bank said it intends to build a more resilient foundation for financial services while aligning with China’s broader digital economy agenda. The bank noted reforms in its risk management framework, pledging to strengthen forward-looking risk assessments and early-warning mechanisms. It also set goals to enhance asset-liability management by expanding settlement-based liabilities and rebalancing pricing structures. According to the report, Industrial Bank will also promote industrial finance, enhance research-driven strategies, and integrate its “Three Name Cards” policy with the “Five Major Articles” plan to advance coordinated development. China Faces Currency Internationalization Challenges At a recent closed-door seminar hosted by the New Economists Think Tank, former Deputy Finance Minister Zhu Guangyao urged China to incorporate yuan-backed stablecoins into its top-level financial strategy. People’s Bank of China Governor Pan Gongsheng laid out in the clearest terms yet his vision for the future of a new global currency order after decades of dollar dominance, predicting a more competitive system will take root in the years to come https://t.co/9zChzN9KRR — Bloomberg (@business) June 18, 2025 Zhu described dollar-pegged stablecoins as an extension of U.S. monetary strategy, calling them “the third phase of the Bretton Woods system.” He noted their transaction volume reached $27.6 trillion in 2024, surpassing Visa and Mastercard, with cross-border payments exceeding $250 trillion. He proposed using Hong Kong as a regulatory sandbox, issuing both offshore and domestic CNY stablecoins, and closely monitoring U.S. enforcement of stablecoin rules. He argued that yuan-backed stablecoins could diversify payment channels beyond SWIFT and CHIPS, allowing gradual currency internationalization while adhering to international reserve and audit standards. For China, aligning CBDC and stablecoin projects with cross-border trade initiatives like the Belt and Road could extend the yuan’s reach without requiring full capital account liberalization. Frequently Asked Questions (FAQs) What distinguishes stablecoins from China’s e-CNY? Unlike the centrally issued digital yuan, yuan-backed stablecoins would likely be issued offshore or via licensed entities, potentially offering greater flexibility in cross-border usage and integration with foreign systems. What risks accompany yuan-backed stablecoin issuance? They include potential sanctions exposure, liquidity management challenges, and the need to maintain reserve transparency to build global trust. How might AI integration support stablecoin use? AI systems could enhance risk monitoring, fraud detection, and automated compliance, reinforcing security as transaction volumes grow.

PANews reported on July 22 that according to GMGN data, the market value of DORA, a community-driven asset built on BNB Chain, has exceeded US$400 million today, and is now