Minsheng Securities: Stablecoins are unlikely to save the dollar credit crisis in the short term.

[Coin World][Opinion: Stablecoins cannot save the credit of the US dollar from crisis in the short term] Minsheng Securities released a research report stating that stablecoins cannot save the credit of the US dollar from crisis in the short term at least. The difference between stablecoins and gold is that, first, their supply could also spiral out of control, lacking an objective constraint mechanism; second, they are not globally recognized as reliable reserve assets. Minsheng Securities' main point of view is that the growth of stablecoin market capitalization will mainly come from speculation, investment, or value preservation demand for digital assets, as well as new demand for participating in international trade settlement. Perhaps time can solve the problem, but at least in the recent years, stablecoins cannot truly stabilize the US dollar.