Stablecoins are making substantial progress in the cross-border payment field. Circle and licensed cross-border payment institution LianLian Global( announced the signing of a memorandum of understanding, and both parties will engage in in-depth cooperation on stablecoin-based cross-border payment infrastructure.

There are many highlights to this cooperation. First is the dual upgrade of efficiency and cost—through stablecoins and blockchain technology, cross-border payment and settlement speeds can be significantly improved, while transaction costs are greatly reduced. Second, both parties plan to promote interoperability between traditional payment systems and blockchain infrastructure, which means Web3 technology is expected to better integrate with the existing financial system.

More notably, Circle's L1 chain is also included in the scope of cooperation. The two sides will jointly explore application opportunities in emerging markets, which could open new prospects for the adoption of stablecoins in emerging economies worldwide. From technical integration to market expansion, this cooperation covers a fairly complete chain.