CITIC Construction Investment: Stablecoins can bridge the gap between centralized credit currencies and digital currencies in the medium and long term
6 hours ago
Odaily News CICC said that in recent years, more and more payments have fled the centralized monetary system dominated by the US dollar and taken refuge in the digital payment system (such as Bitcoin). Stablecoins are "two-sided" currencies that have the characteristics of both centralized and digital currencies. Policies aimed at promoting the development of stablecoins need to focus on strengthening the stability mechanism of stablecoins: enhancing the market's "trust consensus" on stablecoins. This is also the focus of recent stablecoin regulatory policies. Looking only at the current comparison of the total size of stablecoins and US dollars and US bonds, promoting the development of stablecoins will not bring large-scale increases in funds for the US dollar and US bonds in the short term. In the medium and long term, the steady development of stablecoins can first allow fiat currencies (such as the US dollar) to take advantage of the expansion of Bitcoin's market value; secondly, it can also allow fiat currencies to be covered with a layer of stablecoin digital coats to bridge the gap between centralized credit currencies and digital currencies. (Jinshi)
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