Guotai Junan International Research Report: The future stablecoin market is very likely to show a "dual-track parallel" development characteristic

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 the global digital asset market is undergoing a historic transformation as stablecoin regulatory frameworks are implemented in major countries and economies around the world. The firm pointed out that after years of development, non-USD stablecoins have the foundation for expansion, and the "de-dollarization" trend since the beginning of this year has provided new opportunities for non-USD stablecoins. Judging from the regulatory framework and development status of the existing stablecoin market, the stablecoin market is likely to show the development characteristics of "dual-track parallel operation" in the future. On the one hand, U.S. local compliant stablecoins will dominate, serving the heavily regulated traditional financial and institutional markets, emphasizing security, transparency, and legal protection. On the other hand, Tether may continue to play an important role in specific regions and crypto-native ecosystems; at the same time, compliant offshore stablecoins relying on different sovereign currencies will accelerate their development, serving specific geo-economic circles and diversified needs. From the perspective of market composition, for Tether, the wave of U.S. stablecoin compliance is both a challenge to its market share and a potential opportunity for it to cultivate a specific "offshore" ecosystem. At the same time, non-USD stablecoins can also find their own opportunities to break out of the circle from Tether. [BlockBeats]