Guotai Junan Research Report: Tether Faces US Regulatory Challenges, Non-Dollar Stablecoins Seek a Breakthrough

On July 10th, Guotai Junan International recently published a digital asset research report entitled "Insights from Tether: Can Non-USD Stablecoins Break the Mold?" stating that with the implementation of global stablecoin regulatory frameworks, Tether ($USDT) will face severe challenges. The rise of U.S. compliant stablecoins may erode its institutional market share, but Tether remains competitive in high-inflation regions, countries with capital controls, and the crypto-native ecosystem. Research shows that Tether's "technology-neutral" strategy provides development experience for non-USD stablecoins, which can seek breakthroughs by leveraging the "de-dollarization" trend. The future stablecoin market may present a "dual-track parallel" pattern: U.S. compliant stablecoins dominate traditional finance, while Tether and non-USD stablecoins serve specific regions and diversified needs. [Deep Tide TechFlow]