According to CoinWorld news, on June 20 (UTC+8), Guotai Junan Securities Research released a report titled "Stablecoins: How They Reshape Global Currency and Assets." The report delves into the current development status and future prospects of the stablecoin market, analyzing its impact on major asset classes. It points out six common misconceptions about stablecoins. First, the value of stablecoins is not absolutely stable, but is affected by technical decoupling risks and the volatility of the underlying assets. Secondly, not all fiat currencies can issue stablecoins in large quantities; development depends on the acceptance of the fiat currency. Regarding USD stablecoins, the report believes that they will not weaken the credibility of the US dollar; on the contrary, they will strengthen the international status of the dollar, but may pose challenges to the monetary systems of other countries. Additionally, the impact of USD stablecoins on the US short-term bond market is limited and does not significantly help alleviate its pressures. In terms of money supply, the issuance of USD stablecoins only delegates some authority to issuing companies, while the Federal Reserve still maintains the primary regulatory control. Lastly, the support for stablecoins has limited impact on the real-world asset (RWA) market, and their development relies more on the quality of the underlying assets.
