Stablecoins Unlikely to Bolster U.S. Dollar Credibility in Short Term

According to Odaily, a research report by Minsheng Securities suggests that stablecoins are unlikely to rescue the credibility of the U.S. dollar in the short term. The report highlights that the primary issue with the dollar lies in identifying counterparties, with overseas official reserves posing a significant concern, irrespective of domestic preferences in the United States. Unlike gold, stablecoins face challenges such as potential supply instability and the lack of global recognition as a reliable reserve asset.