According to the latest financial analysis report, Minsheng Securities expresses doubts about the ability of stablecoins to save the credit of the US dollar in the short term. The report points out that the core challenge facing the US dollar lies in accurately identifying its counterparties, particularly the pressure that foreign official reserves may place on the dollar, a factor that is sufficient to put the dollar in a precarious position.

Analysis suggests that there are two key differences between stablecoins and gold: first, the supply of stablecoins may become uncontrolled, lacking effective objective constraints; second, stablecoins have not yet been widely recognized globally as reliable reserve assets. These factors limit the role of stablecoins in the current financial system similar to that of gold.

It is worth noting that this perspective does not take into account the attitudes towards stablecoins within the United States, but rather focuses on the overall landscape of the global financial market. As digital currency technology continues to evolve, the role of stablecoins in the international financial arena still requires further observation and assessment.

Although stablecoins show potential in certain areas, they still need to overcome many challenges to truly become a strong support for the credit of the US dollar, including establishing a sound regulatory framework, increasing market acceptance, and enhancing their credibility as a reserve asset. In the future, as the global financial landscape evolves, the relationship between stablecoins and traditional currencies may see new developments.