Sygnum Predicts Stablecoins Are Key to Maintaining Dollar Reserve Currency Status

Cryptocurrency bank Sygnum released a report on the future of the US dollar on the 10th, which also mentions stablecoins and predicts their long-term and mid-term outlook.

In developing countries, there is a growing retail demand for the US dollar against the backdrop of local currency weakening, depreciation, or high inflation.

The report highlights that the U.S. government believes dollar-denominated stablecoins can meet this demand and prevent the decline of the dollar's status as an international reserve currency.

The government is actively promoting the expansion of the dollar-denominated stablecoin market, aiming to...