How Stablecoins Are Strengthening the US Dollar – And Why China Is Worried

The stablecoin market has surged to a capitalization of $240 billion, marking a significant growth in this digital asset class.  According to CoinGecko data, Tether (USDT) and USD Coin (USDC) account for 83% of the global stablecoin market share. However, Chinese economists worry that the explosion of USD-pegged stablecoins could further strengthen the US dollar’s dominance. The Stablecoin Boom and USD’s Role Stablecoins, known for their price stability because they are pegged to assets like the US dollar, have become a crucial bridge between traditional finance and crypto source: https://beincrypto.com/stablecoins-strengthening-us-dollar-china-concerns/