Mu Changchun, director of the Central Bank's Institute of Digital Money: The main purpose of the stable currency is to promote global cross-border payments

Mu Changchun, director of the Digital Money Institute of the People's Bank of China, said on the 10th at the "10th Caixin Summit: Open China and the World" that the main purpose of the stable currency is to promote global cross-border payment to be more efficient and cost-effective. Low and more inclusive development. However, the cost of cross-border payments is not technical, but mainly institutional and regulatory costs. New technologies and new payment tools do not solve this problem fundamentally.