Viewpoint: In the short term, stablecoins cannot save the dollar's credit from crisis.

Golden Finance reported that Minsheng Securities released a research report stating that, at least in the short term, stablecoins cannot save the dollar's credit from crisis. The difference between stablecoins and gold is that, first, their supply may also spiral out of control, lacking an objective constraint mechanism; second, they are not globally recognized as reliable reserve assets. Minsheng Securities' main viewpoint is that the rise in stablecoin market capitalization will primarily come from speculation, investment, or demand for preservation of value regarding digital assets, as well as new demand for participating in international trade settlements. Perhaps time can solve the problem, but at least in the recent years, stablecoins cannot truly stabilize the dollar.