Circle CEO and founder Jeremy Allaire said China is preparing for its first government-backed digital currency, and China's broader internationalization concept is to provide more and more consumers, markets and businesses with the country. Direct integration and trade to expand its role as a “trade counterparty”. Digital currency is the natural way for China to grow. This development will lead to a model with better monetary regulation and policy transmission, and hope that eventually every central bank will be aware of this advantage. He further said: "The People's Bank of China has left a deep impression on me, how forward they are."