Woofun AI reports that Mu Changchun, Director of the People's Bank of China's Digital Currency Research Institute, stated stablecoins and cryptocurrencies are driving global cross-border payments into a new development phase. He disclosed that the mBridge project, which began sustained real transactions in June 2024, achieved a cumulative transaction volume nearing 500 billion yuan by the end of 2025. The initiative seeks to become a Financial Market Infrastructure under a multilateral governance framework involving central banks and financial institutions.