Circle ra m&#7855;t StableFX &ndash; m&#7897;t s&aacute;ng ki&#7871;n nh&#7857;m thay &#273;&#7893;i th&#7883; tr&#432;&#7901;ng ngo&#7841;i h&#7889;i (FX) tr&#7883; gi&aacute; 10,000 t&#7927; USD giao d&#7883;ch m&#7895;i ng&agrave;y b&#7857;ng c&aacute;ch cho ph&eacute;p chuy&#7875;n &#273;&#7893;i ngo&#7841;i t&#7879; 24/7 tr&ecirc;n blockchain v&#7899;i stablecoin.
N&#7873;n t&#7843;ng StableFX &#273;&#432;&#7907;c gi&#7899;i thi&#7879;u v&agrave;o th&aacute;ng 11/2025 tr&ecirc;n blockchain Arc c&#7911;a Circle, h&#7913;a h&#7865;n gi&#7843;i quy&#7871;t nh&#7919;ng kh&oacute; kh&#259;n l&acirc;u nay c&#7911;a FX nh&#432; y&ecirc;u c&#7847;u ti&#7873;n k&yacute; qu&#7929; tr&#432;&#7899;c, th&#7901;i gian thanh to&aacute;n ch&#7853;m v&agrave; c&aacute;c s&agrave;n giao d&#7883;ch b&#7883; chia nh&#7887;.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-circle-launches-stablefx-to-modernize-global-fx">Circle ra m&#7855;t StableFX &#273;&#7875; hi&#7879;n &#273;&#7841;i h&oacute;a th&#7883; tr&#432;&#7901;ng ngo&#7841;i h&#7889;i to&agrave;n c&#7847;u</h2>

StableFX c&#7911;a Circle cho ph&eacute;p c&aacute;c t&#7893; ch&#7913;c giao d&#7883;ch c&aacute;c c&#7863;p stablecoin nh&#432; USDC/EURC th&ocirc;ng qua h&igrave;nh th&#7913;c y&ecirc;u c&#7847;u b&aacute;o gi&aacute; (RFQ) t&#7915; nhi&#7873;u nh&agrave; cung c&#7845;p thanh kho&#7843;n kh&aacute;c nhau.
V&#7899;i h&igrave;nh th&#7913;c thanh to&aacute;n &#273;&#7891;ng th&#7901;i Payment-versus-Payment (PvP) c&#7911;a StableFX, th&#7901;i gian thanh to&aacute;n truy&#7873;n th&#7889;ng T+1/T+2 &#273;&#432;&#7907;c r&uacute;t ng&#7855;n ch&#7881; c&ograve;n d&#432;&#7899;i m&#7897;t gi&acirc;y. H&#7879; th&#7889;ng n&agrave;y kh&ocirc;ng c&#7847;n k&yacute; qu&#7929; tr&#432;&#7899;c hay c&aacute;c tho&#7843; thu&#7853;n song ph&#432;&#417;ng, gi&uacute;p t&#7889;i &#432;u v&#7889;n cho c&aacute;c b&#7897; ph&#7853;n t&agrave;i ch&iacute;nh, thanh to&aacute;n v&agrave; th&#432;&#417;ng m&#7841;i to&agrave;n c&#7847;u.
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&ldquo;&hellip;ch&uacute;ng t&ocirc;i &#273;ang t&#7853;p trung h&#7895; tr&#7907; ra m&#7855;t stablecoin ch&#7845;t l&#432;&#7907;ng, x&acirc;y d&#7921;ng blockchain, n&acirc;ng cao kh&#7843; n&#259;ng t&#432;&#417;ng t&aacute;c, cung c&#7845;p gi&#7843;i ph&aacute;p thanh kho&#7843;n v&agrave; t&#7841;o ra c&aacute;c th&#7883; tr&#432;&#7901;ng giao d&#7883;ch &#273;&#7875; thi&#7871;t l&#7853;p nh&#7919;ng n&#7873;n t&#7843;ng v&#7919;ng ch&#7855;c, gi&uacute;p th&#432;&#417;ng m&#7841;i v&agrave; t&agrave;i ch&iacute;nh th&#7921;c s&#7921; &#273;&#432;&#7907;c k&#7871;t n&#7889;i to&agrave;n c&#7847;u,&rdquo; <a href="https://x.com/jerallaire/status/2015861017151209909" target="_blank" rel="noreferrer noopener nofollow">chia s&#7867;</a> CEO Circle &ndash; Jeremy Allaire.
</blockquote>

S&aacute;ng ki&#7871;n n&agrave;y c&ograve;n c&oacute; ch&#432;&#417;ng tr&igrave;nh Partner Stablecoins, h&#7895; tr&#7907; c&aacute;c nh&agrave; ph&aacute;t h&agrave;nh stablecoin &#273;&#7883;a ph&#432;&#417;ng &#273;&#7871;n t&#7915; Nh&#7853;t B&#7843;n, Brazil, H&agrave;n Qu&#7889;c, Philippines, &Uacute;c v&agrave; <a href="https://vn.beincrypto.com/south-africa-stablecoin-bank-risk/" target="_blank" rel="noreferrer noopener">Nam Phi</a>.
L&agrave;n s&oacute;ng &#7913;ng d&#7909;ng ban &#273;&#7847;u r&#7845;t kh&#7843; quan. Nh&#7853;t B&#7843;n &#273;&atilde; ph&ecirc; duy&#7879;t USDC v&agrave;o th&aacute;ng 03/2025 <a href="https://vn.beincrypto.com/usdc-stablecoin-japan-approval/" target="_blank" rel="noreferrer noopener">th&ocirc;ng qua li&ecirc;n doanh v&#7899;i SBI Holdings</a>. Ngo&agrave;i ra, stablecoin JPYC c&#7911;a Nh&#7853;t c&#361;ng &#273;&atilde; t&iacute;ch h&#7907;p v&#7899;i StableFX, gi&uacute;p chuy&#7875;n &#273;&#7893;i gi&#7919;a yen v&agrave; USDC chi ph&iacute; th&#7845;p.
<a href="https://vn.beincrypto.com/stablecoin-summer-emerging-markets-winter-us-crypto-news/" target="_blank" rel="noreferrer noopener">C&aacute;c th&#7883; tr&#432;&#7901;ng m&#7899;i n&#7893;i nh&#432; Singapore v&agrave; Malaysia</a> c&#361;ng &#273;ang nghi&ecirc;n c&#7913;u &#7913;ng d&#7909;ng stablecoin cho vi&#7879;c token h&oacute;a th&#432;&#417;ng m&#7841;i v&agrave; ph&ograve;ng ng&#7915;a r&#7911;i ro FX. S&#7921; quan t&acirc;m c&#361;ng t&#259;ng l&ecirc;n t&#7841;i c&aacute;c n&#432;&#7899;c nh&#432; Brazil v&agrave; H&agrave;n Qu&#7889;c.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading" id="h-from-seconds-to-systemic-risk-the-promise-and-peril-of-stablefx">T&#7915; v&agrave;i gi&acirc;y &#273;&#7871;n r&#7911;i ro h&#7879; th&#7889;ng: C&#417; h&#7897;i v&agrave; th&aacute;ch th&#7913;c c&#7911;a StableFX</h2>

StableFX gi&#7843;i quy&#7871;t nh&#7919;ng v&#7845;n &#273;&#7873; quan tr&#7885;ng c&#7911;a FX khi v&#7853;n h&agrave;nh tr&ecirc;n blockchain:
<ul class="bic-gutenberg-list wp-list list-disc ">
<li>Cho ph&eacute;p chuy&#7875;n &#273;&#7893;i ti&#7873;n t&#7879; m&#7885;i l&uacute;c, l&#7853;p tr&igrave;nh linh ho&#7841;t</li>

<li>K&#7871;t n&#7889;i v&#7899;i Cross-Chain Transfer Protocol (CCTP) c&#7911;a Circle &#273;&#7875; cung c&#7845;p thanh kho&#7843;n xuy&ecirc;n chu&#7895;i blockchain</li>

<li>Doanh nghi&#7879;p c&oacute; th&#7875; ti&#7871;p c&#7853;n qua Gateway APIs v&agrave; giao di&#7879;n v&iacute; d&#7877; s&#7917; d&#7909;ng.</li>
</ul>

Tr&ecirc;n th&#7921;c t&#7871;, &#273;i&#7873;u n&agrave;y gi&uacute;p c&aacute;c d&ograve;ng ti&#7873;n FX c&oacute; th&#7875; t&iacute;ch h&#7907;p tr&#7921;c ti&#7871;p v&agrave;o &#7913;ng d&#7909;ng, mang l&#7841;i kh&#7843; n&#259;ng giao th&#432;&#417;ng to&agrave;n c&#7847;u theo th&#7901;i gian th&#7921;c.
Th&#7883; tr&#432;&#7901;ng c&#361;ng s&#7869; &#273;&#432;&#7907;c h&#432;&#7903;ng l&#7907;i r&otilde; r&#7879;t, b&#7903;i FX v&#7889;n b&#7883; gi&#7899;i h&#7841;n b&#7903;i h&#7879; th&#7889;ng c&#361; v&agrave; c&aacute;c s&agrave;n nh&#7887; l&#7867;, gi&#7901; &#273;&acirc;y c&oacute; c&#417; h&#7897;i ph&aacute;t tri&#7875;n v&#7899;i t&#7889;c &#273;&#7897; v&agrave; s&#7921; linh ho&#7841;t nh&#432; Internet.
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&ldquo;Ngo&#7841;i h&#7889;i l&agrave; m&#7897;t trong nh&#7919;ng th&#7883; tr&#432;&#7901;ng t&agrave;i ch&iacute;nh l&#7899;n nh&#7845;t to&agrave;n c&#7847;u, th&#7871; nh&#432;ng v&#7851;n ch&#7883;u c&#7843;nh thanh to&aacute;n ch&#7853;m, ph&#7843;i k&yacute; qu&#7929; tr&#432;&#7899;c v&agrave; thanh kho&#7843;n b&#7883; ph&acirc;n t&aacute;n,&rdquo; <a href="https://x.com/CarbzXBT/status/2002687982571037107?s=20" target="_blank" rel="noreferrer noopener nofollow">nh&#7853;n x&eacute;t</a> nh&agrave; nghi&ecirc;n c&#7913;u Carbz.
</blockquote>

Chi ph&iacute; gi&#7843;m m&#7841;nh, th&#7901;i gian thanh to&aacute;n ch&#7881; t&iacute;nh b&#7857;ng gi&acirc;y thay v&igrave; ng&agrave;y, c&ugrave;ng v&#7899;i s&#7921; r&otilde; r&agrave;ng v&#7873; ph&aacute;p l&yacute; t&#7915; &#272;&#7841;o lu&#7853;t US GENIUS v&agrave; <a href="https://vn.beincrypto.com/circle-ipo-raises-targets-success-plasma/" target="_blank" rel="noreferrer noopener">vi&#7879;c Circle IPO</a> c&#361;ng h&#7895; tr&#7907; qu&aacute; tr&igrave;nh &aacute;p d&#7909;ng StableFX.
Tuy nhi&ecirc;n, r&#7911;i ro c&#361;ng r&#7845;t l&#7899;n. S&#7921; m&#7845;t &#7893;n &#273;&#7883;nh gi&aacute; c&#7911;a stablecoin l&agrave; &#273;i&#7873;u &#273;&aacute;ng lo ng&#7841;i: <a href="https://beincrypto.com/financial-chair-stablecoin-regulation-usdc-depeg/" target="_blank" rel="noreferrer noopener">USDC t&#7915;ng gi&#7843;m xu&#7889;ng 87 cent v&agrave;o n&#259;m 2023</a> sau s&#7921; s&#7909;p &#273;&#7893; c&#7911;a Silicon Valley Bank.
&#272;i&#7873;u n&agrave;y cho th&#7845;y ngay c&#7843; stablecoin uy t&iacute;n c&#361;ng c&oacute; th&#7875; g&#7863;p s&#7921; c&#7889;. C&aacute;c r&#7911;i ro v&#7853;n h&agrave;nh kh&aacute;c nh&#432; <a href="https://vn.beincrypto.com/matcha-meta-swapnet-defi-exploit-loss/" target="_blank" rel="noreferrer noopener">l&#7895;i smart contract</a>, v&iacute; kh&ocirc;ng t&#432;&#417;ng th&iacute;ch ho&#7863;c giao d&#7883;ch kh&ocirc;ng th&#7875; ho&agrave;n l&#7841;i c&#361;ng c&oacute; th&#7875; l&agrave;m gi&aacute;n &#273;o&#7841;n d&ograve;ng ti&#7873;n FX.
R&#7911;i ro v&#7873; gian l&#7853;n v&agrave; ho&#7841;t &#273;&#7897;ng phi ph&aacute;p c&#361;ng c&ograve;n t&#7891;n t&#7841;i, v&#7899;i 12.4 t&#7927; USD b&#7883; l&#7915;a &#273;&#7843;o trong l&#297;nh v&#7921;c crypto n&#259;m 2024 v&agrave; <a href="https://vn.beincrypto.com/crypto-theft-scams-2025-record-losses/" target="_blank" rel="noreferrer noopener">h&#417;n 4 t&#7927; USD n&#259;m 2025</a>. B&ecirc;n c&#7841;nh &#273;&oacute;, nh&#7919;ng b&#7845;t c&#7853;p v&#7873; ph&aacute;p l&yacute;, &#273;&#7863;c bi&#7879;t l&agrave; v&#7899;i <a href="https://vn.beincrypto.com/binance-mica-application-greece-eu/" target="_blank" rel="noreferrer noopener">khung MiCA c&#7911;a ch&acirc;u &Acirc;u</a> v&agrave; s&#7921; qu&#7843;n l&yacute; t&#7841;i M&#7929; c&oacute; th&#7875; l&agrave;m ch&#7853;m l&#7841;i vi&#7879;c &#7913;ng d&#7909;ng.
C&aacute;c chuy&ecirc;n gia c&#361;ng c&#7843;nh b&aacute;o r&#7857;ng n&#7871;u ph&aacute;t tri&#7875;n qu&aacute; n&oacute;ng m&agrave; kh&ocirc;ng ki&#7875;m so&aacute;t, h&#7879; th&#7889;ng n&agrave;y c&oacute; th&#7875; g&acirc;y ra r&#7911;i ro cho to&agrave;n ng&agrave;nh t&agrave;i ch&iacute;nh nh&#432; c&aacute;c qu&#7929; th&#7883; tr&#432;&#7901;ng ti&#7873;n t&#7879; t&#7915;ng g&#7863;p ph&#7843;i.
Circle tin r&#7857;ng StableFX c&oacute; th&#7875; l&agrave;m l&#7841;i b&#7897; m&#7863;t th&#7883; tr&#432;&#7901;ng FX to&agrave;n c&#7847;u v&agrave; th&#432;&#417;ng m&#7841;i xuy&ecirc;n bi&ecirc;n gi&#7899;i, gi&uacute;p m&#7885;i giao d&#7883;ch nhanh h&#417;n, d&#7877; d&agrave;ng t&iacute;ch h&#7907;p v&agrave; ti&#7871;t ki&#7879;m v&#7889;n h&#417;n.
Tuy nhi&ecirc;n, ch&#7881; c&#7847;n m&#7897;t l&#7847;n m&#7845;t gi&aacute; stablecoin l&#7899;n, b&#7883; hack hay r&#7911;i ro ph&aacute;p l&yacute; c&oacute; th&#7875; g&acirc;y t&#7893;n th&#7845;t n&#7863;ng n&#7873; cho Circle v&agrave; c&aacute;c &#273;&#7889;i t&aacute;c.
StableFX v&#7915;a mang l&#7841;i k&#7923; v&#7885;ng v&#7873; m&#7897;t h&#7879; th&#7889;ng FX m&#7899;i tr&ecirc;n to&agrave;n c&#7847;u, v&#7915;a l&agrave; m&#7897;t &ldquo;canh b&#7841;c&rdquo; l&#7899;n c&oacute; th&#7875; l&agrave;m thay &#273;&#7893;i to&agrave;n b&#7897; kh&aacute;i ni&#7879;m v&#7873; ti&#7873;n t&#7879; m&agrave; ch&uacute;ng ta bi&#7871;t hi&#7879;n nay.

Circle có thể thay đổi tiền tệ toàn cầu với canh bạc mới — hoặc đối mặt nguy cơ mất tất cả