Hong Hao: The scale of stablecoins will soon exceed one trillion US dollars, and China should use stablecoin technology

According to Viewpoint Network, Foresight News reported that Hong Hao, chief economist of Suri Group, stated that the stablecoin market is currently very small, with only $250 billion. As more participants join, it will soon far exceed $1 trillion. Stablecoins are an emerging source of demand for US Treasury bonds, especially given the severe fiscal condition of the United States, which needs all the help from stablecoins. Hong Hao said that China should use stablecoin technology. In terms of transaction speed and extremely low transaction costs, stablecoins outperform everything else, especially in cross-border transactions. For China, nearly 50% of cross-border trade is now settled in RMB. Therefore, to encourage more foreign participants to buy and sell with China, stablecoins are one of the better ways to solve cross-border transaction costs and speed issues.