可以说Web3.0是过去两年中国内支付机构的热门话题

可以说Web3.0是过去两年中国内支付机构的热门话题，从NFT，Metaverse到加密货币，尤其是与StableCoin相关的内容。

As the saying goes, "hot topics come in waves". In the past two years, Web3.0 has been a hot topic among domestic payment institutions, starting with NFT, Metaverse, and cryptocurrency, especially stablecoin-related content.

俗话说，“热门话题阵阵浪潮”。在过去的两年中，Web3.0一直是国内支付机构中的热门话题，从NFT，Metaverse和Cryptocurrency开始，尤其是与StableCoin相关的内容。

Following the domestic ban on cryptocurrency-related industries in 2021, cryptocurrency seemed to have disappeared from the vision of domestic payment institutions. However, with the increasing demand for stablecoins in global trade, international and domestic payment giants have renewed their focus on stablecoin payments.

在2021年国内禁止与加密货币相关的行业禁止之后，加密货币似乎从国内支付机构的愿景中消失了。但是，随着全球贸易中对稳定币的需求不断增长，国际和国内付款巨头已经重新专注于稳定付款。

So which domestic licensed payment institutions have "entered" stablecoins, and what issues are worth paying attention to?

那么，哪些国内许可的付款机构已经“输入”了Stablecoins，哪些问题值得关注？

1. Prohibition

1。禁令

In September 2021, the People's Bank of China, the Cyberspace Administration of China, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange, along with other ten ministries and commissions, jointly issued the "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation".

2021年9月，中国人民银行，中国的网络空间管理，最高人民法院，最高人民的采购方，工业和信息技术部，公共安全部，国家监管部，国家监管部，中国银行业和保险监管委员会，中国证券监管委员会以及国外的国外委员会以及国外的国际机构，以及特务公司，以及特殊的委员会，以及特殊的委员会，'处理虚拟货币交易投机的风险”。

The notice clearly stated that virtual currency-related business activities are illegal financial activities, and that overseas virtual currency exchanges providing services to residents in my country through the Internet are also illegal financial activities.

该通知清楚地指出，虚拟货币相关的商业活动是非法的财务活动，并且通过互联网向我国为居民提供服务的海外虚拟货币交易所也是非法的财务活动。

The joint release by so many departments signifies that almost all virtual currency-related market activities are prohibited. Up to now, there are no updated laws and regulations to lift the ban or provide further explanation. This makes it impossible for any virtual currency businesses to operate in mainland China or serve residents of the country.

许多部门的联合发布表明，几乎所有与虚拟货币相关的市场活动都被禁止。到目前为止，还没有更新的法律法规来解除禁令或提供进一步的解释。这使得任何虚拟货币企业都无法在中国大陆开展业务或为该国的居民提供服务。

Prior to this, major companies had also expressed their stances.

在此之前，主要公司还表达了自己的立场。

In 2018, Tencent stated that it has always adhered to the principle of resolutely not providing any related services for illegal financial activities such as "issuance of ICO tokens at home and abroad, virtual currency transactions", including not providing related payment channels, advertising services, or any other businesses.

Tencent在2018年表示，它始终坚持不坚定地不为非法财务活动提供任何相关服务，例如“在国内和国外发行ICO代币，虚拟货币交易”，包括不提供相关的付款渠道，广告服务，广告服务或任何其他企业。

Moreover, Ma Huateng made it clear during the two sessions that year that Tencent would not issue virtual currency, as blockchain technology is still in its early stages of development and needs to establish an effective application model, and once the currency is issued, it will cause a series of regulatory issues. But Tencent has never stopped exploring blockchain technology and its applications.

此外，在那一年的两个会议期间，Ma Huateng明确表示，Tencent不会发行虚拟货币，因为区块链技术仍处于开发的早期阶段，并且需要建立有效的应用模型，并且一旦发行了货币，它将引起一系列的监管问题。但是Tencent从未停止探索区块链技术及其应用。

In June 2021, Alipay also issued a statement prohibiting the use of the company's services for virtual currency transactions such as Bitcoin, while continuing to carry out comprehensive inspections and crackdowns on virtual currency transactions.

2021年6月，Alipay还发表了一份声明，禁止将公司服务用于虚拟货币交易（例如比特币），同时继续对虚拟货币交易进行全面的检查和镇压。

However, with the passage of time, the development of global stablecoin payments has exceeded many people's expectations, and the integration of Web2.0 payments (traditional payments) and Web3.0 payments has become an industry hotspot.

但是，随着时间的流逝，全球稳定付款的发展超出了许多人的期望，Web2.0付款（传统付款）和Web3.0付款的整合已成为行业热点。

2. Enter the Game

2。输入游戏

Due to the ban in mainland China, many companies that want to get involved in cryptocurrency have reached a consensus: they should not conduct business in mainland China, serve mainland Chinese residents, or even touch any RMB-related business. At present, there are clear signs that the affiliated companies of licensed payment institutions which have entered cryptocurrency-related businesses overseas include JD.com (Online Banking), Ant Group (Alipay), LianLian, YeePay, etc.

由于中国大陆的禁令，许多想要参与加密货币的公司达成了共识：他们不应在中国大陆开展业务，为中国大陆居民提供服务，甚至触摸与RMB相关的任何业务。目前，有明确的迹象表明，在海外与加密货币相关的企业的许可支付机构的附属公司包括JD.com（在线银行），Ant Broup（Alipay），Lianlian，Yeepay等。

In July 2024, the Hong Kong Monetary Authority announced the first batch of "Stablecoin Issuer Sandbox", including five institutions such as JD CoinChain Technology (Hong Kong) Co., Ltd. Among them, JD's affiliated companies applied for and obtained permission from the Hong Kong government to participate in the research and development of stablecoins. Its official website shows that JD's stablecoin is about to be launched.

2024年7月，香港货币管理局宣布了第一批“ Stablecoin发行人沙箱”，其中包括五个机构，例如JD Coinchain Technology（Hong Kong）Co.它的官方网站显示JD的Stablecoin即将推出。

JD's stablecoin is pegged to the Hong Kong dollar (HKD) at a 1:1 ratio. It is based on a public blockchain and aims to become one of the leading digital currencies for enterprises and individuals seeking efficient, economical, and secure payment solutions.

JD的Stablecoin以1：1的比例固定在香港美元（HKD）上。它基于公共区块链，旨在成为寻求高效，经济和安全付款解决方案的企业和个人的领先数字货币之一。

Shortly after, AirstarBank, a subsidiary of Xiaomi (whose payment institution is Jifu Ruitong), announced its cooperation with JD Coin Chain to explore cross-border payment solutions for enterprises based on stablecoins. Therefore, Xiaomi is also openly involved in stablecoin payments.

不久之后，小米（其付款机构是Jifu Ruitong）的子公司Airstarbank宣布与JD Coin Chain合作，以探索基于StableCoins的企业的跨境支付解决方案。因此，小米也公开参与稳定付款。

In addition, in August 2024, Ant International launched a pilot project of "DBS Treasury Tokens" in cooperation with DBS Bank to improve treasury and liquidity management. The pilot runs on its permissioned blockchain, facilitating Ant International's multi-currency treasury and liquidity management in various markets.

此外，在2024年8月，ANT International与DBS Bank合作推出了“ DBS国库令牌”的试点项目，以改善财政部和流动性管理。该飞行员在其许可的区块链上运行，促进了Ant International在各个市场中的多阶段财政部和流动性管理。

In December 2024, LianLian Digital's wholly-owned subsidiary DFX Labs obtained the Hong Kong VATP virtual asset trading platform license.

2024年12月，Lianlian Digital的全资子公司DFX实验室获得了香港VATP虚拟资产交易平台许可证。

There is another Web3.0 enterprise with the "gene" of Yibao, which has also received high attention recently, and that is Kun. In February 20

Yibao的“基因”还有另一个Web3.0企业，最近也受到了高度关注，这就是Kun。 2月20日