Recently, a high-level learning conference on cryptocurrency and stablecoins has attracted widespread attention in the financial sector. Although some false rumors emerged after the meeting, the core message conveyed by the conference is still worth our in-depth discussion.

The conference emphasized three key areas: cross-border payments, supply chain finance, and asset digitization. These three areas are the main pain points currently faced by enterprises and are also important scenarios where stablecoins may bring transformation.

In cross-border payments, traditional models face issues such as inefficiency and high costs. The Shanghai Free Trade Zone is experimenting with an innovative model that uses smart contracts to validate foreign exchange in real-time, which is expected to significantly improve transaction efficiency and reduce risks.

Supply chain finance has long faced challenges such as data fragmentation and high verification costs. Some large state-owned enterprises are exploring the conversion of accounts payable into tokens on the blockchain, a method that is expected to help small and medium-sized enterprises obtain financing more quickly and optimize the flow of funds throughout the supply chain.

Digital assetization aims to address issues such as unclear rights and insufficient liquidity. An innovative project in the Shanghai Free Trade Zone is attempting to tokenize physical assets and, in conjunction with the REITs valuation model, provides new ideas for establishing rights standards and enhancing liquidity.

The development of these three major scenarios is expected to bring substantial changes to the real economy: reducing exchange rate risks in cross-border transactions, improving the efficiency of supply chain financing, and revitalizing dormant physical assets.

However, to truly achieve these transformations, the deep integration of technology and ecology is crucial. Past pilot experiences have shown that mere technological breakthroughs are not enough; a comprehensive ecological system must also be established, including the collaboration of legal regulations, market participants, regulatory frameworks, and other aspects.

Overall, the application prospects of stablecoins in these three major scenarios are broad, but to truly take root, many challenges still need to be overcome. We look forward to seeing more innovative practices that promote the digital transformation and efficiency enhancement of the real economy.