PBoC Governor Pan Gongsheng: Blockchain and Distributed Ledgers Accelerate Development of Central Bank Digital Currencies and Stablecoins

1 day ago / Read about 0 minute

Author：小编

Pan Gongsheng, Governor of the People's Bank of China, addressed the 2025 Lujiazui Forum, emphasizing that advancements in blockchain and distributed ledger technologies are propelling the vigorous development of central bank digital currencies (CBDCs) and stablecoins. These innovations are fundamentally transforming the payment and settlement landscape, dramatically reducing the complexity of cross-border transactions. Additionally, smart contracts and decentralized finance (DeFi) solutions are poised to further enhance the evolution of cross-border payment systems. Nonetheless, these cutting-edge technologies introduce novel challenges for financial regulation.

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