Currently, over 95% of stablecoins are pegged to the US dollar. This almost means that every circulation of stablecoins requires indirect support from the dollar or US Treasury bonds, which may serve as an indirect endorsement of the dollar.
This is not a coincidence but the latest evolution of nearly a century of US dollar hegemony in the digital age:
In 1944, the Bretton Woods system established a link between the US dollar and gold, while other currencies were linked to the dollar. By 1973, although the Bretton Woods system had collapsed, the United States reached an agreement with OPEC countries like Saudi Arabia to settle oil transactions in dollars, thus establishing the petrodollar system. Since then, almost all international trade has relied on dollar settlements.#我的COS交易 $BTC
