Expert Opinion: Stablecoins Struggle to Become Mainstream in the Currency Market

BlockBeats News, December 3rd, He Dong, Chief Economist of the ASEAN+3 Macroeconomic Research Office (AMRO), stated that stablecoins issued by non-bank institutions do not have the ability to create money, have limited capacity to serve the real economy, and therefore are unlikely to become mainstream in the currency market in the long run.

At the same time, the People's Bank of China also pointed out that stablecoins carry money laundering and fraud risks. Currently, various regions around the world are studying the development of digital currencies, with central banks, banks, and non-bank financial institutions all introducing different new payment tools.