According to Odaily Planet Daily, Minsheng Securities released a research report stating that at least in the short term, stablecoins cannot save the credibility of the US dollar. The problem with the US dollar lies in the unclear counterparties, and overseas official reserves may raise concerns about the dollar.
The difference between stablecoins and gold is that the supply of stablecoins may be uncontrollable and lacks an objective constraint mechanism. In addition, stablecoins are not globally recognized as reliable reserve assets.