Odaily Planet Daily News - Guotai Junan International recently released a digital asset research report titled (Insights from Tether: Can Non-Dollar Stablecoins Break the Deadlock?). The report indicates that with the implementation of stablecoin regulatory frameworks in major countries and economies worldwide, the global digital asset market is undergoing historic changes. The bank pointed out that after years of development, non-dollar stablecoins have established an expansion base, and the trend of 'de-dollarization' this year has provided new opportunities for non-U.S. stablecoins. Based on the current regulatory framework and development status of the stablecoin market, it is likely that the future stablecoin market will exhibit characteristics of 'dual-track parallel' development. On one hand, U.S. compliant stablecoins will dominate, serving the heavily regulated traditional finance and institutional markets, emphasizing safety, transparency, and legal protection. On the other hand, Tether may continue to play an important role in specific regions and within the crypto-native ecosystem; at the same time, compliant offshore stablecoins based on various sovereign currencies will accelerate their development, serving specific geopolitical economic circles and diversified demands. From the market composition perspective, for Tether, the wave of U.S. stablecoin compliance is both a challenge to market share and a potential opportunity for deepening its specific 'offshore' ecosystem. Meanwhile, non-dollar stablecoins can also find their own breakout potential from Tether.