Mu Changchun said at the 2026 Summer Davos Forum that stablecoins and cryptocurrencies are changing the international monetary system, while mBridge has processed nearly RMB 500 billion since entering real-transaction operations in June 2024.
Stablecoins and cryptocurrencies are reshaping the international monetary system and cross-border payments, Mu Changchun, head of the Digital Currency Institute at the People's Bank of China, said at the 2026 Summer Davos Forum. He said mBridge has been in sustained real-transaction operation since June 2024 and had processed nearly RMB 500 billion in cumulative transactions by the end of 2025. The remarks underscore the growing focus among central banks and financial institutions on digital payment infrastructure that could make cross-border settlement faster and more efficient.