According to PANews, CITIC Securities has observed a growing trend of payments moving away from the dollar-dominated centralized currency system towards digital payment systems like Bitcoin. Stablecoins, which possess both centralized and digital currency characteristics, are described as 'dual-faced' currencies. Policies aimed at promoting stablecoin development should focus on enhancing their stability mechanisms to build market trust and consensus. This focus is also reflected in recent regulatory policies concerning stablecoins.
Currently, when comparing the total scale of stablecoins to that of the U.S. dollar and U.S. Treasury bonds, the development of stablecoins is unlikely to attract significant investment into the dollar and U.S. Treasury bonds in the short term. However, in the medium to long term, the stable development of stablecoins could allow fiat currencies, such as the U.S. dollar, to benefit from the expanding market value of Bitcoin. Additionally, it could enable fiat currencies to adopt a digital layer of stablecoins, bridging the gap between centralized fiat currencies and digital currencies.
