CBSR · evidence library
Directed stablecoin corridor evidence | CBSR source library
Compare eight authored corridor examples with direction-specific gates, committed source dependencies and explicit historical review limits.
These are eight selected narratives from a snapshot containing nine authored corridors and 132 directed edges. The selection is an evidence-reading route, not a claim of exhaustive corridor analysis. Compare both directions where linked: the destination gate can change the class even for the same pair of jurisdictions.
Singapore → Hong Kong SAR
The authored SG→HK example is class I in the snapshot, with an HKMA authorisation gate and a separately recorded MAS origin-egress constraint. Institutional cooperation does not remove either issuer's authorisation obligations; formal infrastructure-membership attribution remains a verification-backlog item.
United States → European Union
The US→EU example is class I with a MiCA authorisation and scale mechanism. Its committed class basis uses the corrected conjunctive Article 23 thresholds: both one million daily transactions and EUR 200 million, measured as specified in the source. This differs from the uncorrected 'or' wording retained in one historical record summary.
European Union → United States
The reverse EU→US direction is class T in the historical model. MiCA authorisation does not itself open the US Section 18 pathway. The source conditions a later class II state on commencement; its outer-cap date and final-rules-plus-120-days alternative are conditional historical inputs, not a forecast.
United States → Hong Kong SAR
The US→HK example is class I but still requires the Hong Kong authorisation route. The narrative distinguishes a legal gate from the first licence cohort's then-observed composition; a cohort observation is not a promise of a future licence or general recognition of a foreign dollar token.
Hong Kong SAR → United States
The HK→US direction is class T because the US destination gate, rather than Hong Kong's offshore HKD perimeter, drives this edge. The underlying Act-level record and Section 18 commencement signal have a declared difference which must remain visible in any citation.
United States → Japan
The US→Japan edge is class II: a registered EPIESP channel, local reserve and foreign-issuer conduct conditions rather than automatic dual authorisation. The class basis also records a foreign trust-type instrument recognition condition; it does not turn recognition into blanket market access.
Japan → United States
Japan→US is the class T mirror of the class II US→Japan channel. Japan's issuer categories do not satisfy the US comparability and registration gate by themselves. The source's prospective class II is explicitly conditioned on the US gate commencing.
Hong Kong SAR → Mainland China
The HK→Mainland China edge is blocked at destination in the snapshot. A Hong Kong-issued instrument or a shared infrastructure experiment does not remove the recorded mainland prohibition, and data or capital-flow analysis is a separate question from lawful stablecoin payment circulation.