The changes in the stablecoin market have an impact on the global economy

In June 2025, the concept of stablecoins once again gained momentum in the global financial market. The A-share market witnessed a "stablecoin boom", with many digital currency, cross-border payment, and Web3.0-related stocks experiencing sudden significant increases. Major tech companies entered the market on a large scale. For instance, Ant Group's Ant Digital Finance has officially applied for a stablecoin license. In the US stock market, the company Circle, which is related to stablecoins, saw its stock price rise by over 13% in a single day. The significant increase in stablecoin-related stocks is the result of multiple factors working together. What specific impacts could this have on the international economy? This article will lead readers to analyze it from multiple aspects.

In terms of the international monetary system: First, consolidate the dominance of the US dollar. Currently, most stablecoins are pegged to the US dollar. For instance, the US "Genius Act" stipulates that stablecoin issuers must hold equivalent US dollars, short-term US bonds, and other reserve assets, and only US-registered entities or foreign issuers that meet strict compliance requirements can issue them. This will indirectly increase the demand for the US dollar in the circulation of stablecoins, consolidate the dominant position of the US dollar in the international monetary system, and enhance the United States' influence in global finance. Second, promote currency diversification: The Hong Kong "Stablecoin Ordinance" allows multiple currencies to be pegged, encouraging the issuance of offshore RMB stablecoins, etc., providing a new channel for the internationalization of the RMB. Other countries and regions developing their own domestic stablecoins can also help enhance the status of their own currencies in international payments and settlements, promoting the diversification of the international monetary system and reducing reliance on the US dollar. Third, industry development potential. Stablecoins serve as a bridge connecting traditional finance and the crypto economy, offering advantages such as reducing cross-border payment costs and improving transaction efficiency. They also provide a stable currency value transaction method for real-world assets digitization (RWA). As the scale of stablecoin markets continues to expand, their application scenarios and commercial value are also constantly improving, attracting investors' attention and investment in stablecoin-related concepts.

Regarding the global financial system. One is to change the landscape of financial markets. Stablecoins enable the connection and trading of the US dollar with on-chain crypto assets, which may weaken the market's reliance on traditional bank accounts and payment systems, affect the position of banks as the hub of money circulation, and change the global clearing structure. At the same time, the development of the stablecoin market has attracted a large inflow of funds, providing new sources and investment channels for financial markets and prompting traditional financial institutions to explore businesses related to stablecoins. The second is to increase the difficulty of financial regulation. The rapid development of stablecoins poses challenges to financial regulation. Their transactions have a certain degree of anonymity and cross-border liquidity, making it difficult to trace the source and destination of the funds, and they may be used for illegal activities such as money laundering and terrorist financing. The differences in regulatory policies among different countries and regions can also lead to regulatory arbitrage, increasing the difficulty of coordinating global financial regulation. The third is the promotion of favorable policies. The passage of the GENIUS Act in the US, the implementation of the Stablecoin Ordinance in Hong Kong, and the release of the stablecoin regulation proposal in the UK have all enhanced the compliance and market recognition of stablecoins, allowing the market to see the trend of stablecoins moving towards standardized development globally, thereby boosting investors' confidence in related concept stocks.

In terms of international trade. One is to lower transaction costs. Stablecoins, based on blockchain technology, have significant advantages in cross-border payments and trade settlements. They can achieve end-to-end real-time arrival, shorten transaction confirmation time to minutes, and reduce transaction fees to only 1/10 to 1/100 of traditional systems, effectively reducing cross-border payment costs for enterprises, improving trade efficiency, and promoting trade development in emerging markets. Second, promoting the digitalization of trade: The application of stablecoins has facilitated the digitalization of trade, enabling both trading parties to track the flow of funds and transaction status more clearly, reducing trade disputes, enhancing the stability and reliability of trade, and providing new payment and settlement methods for international trade in the digital economy era. Third, the entry of major players leads the way. Ant Digital, JD.com and other giants are all laying out stablecoin business. They have strong financial strength, technological capabilities and user bases. Their entry into the stablecoin field means that the field has broad prospects for development and provides strong support for the rise of related concept stocks.

Overall, the changes in the stablecoin market have a dual impact on the global economy. On one hand, it has brought new opportunities for the global economy and promoted gold trading.It integrates innovation and trade development; on the other hand, it also brings about many risks and challenges, which require all countries to strengthen supervision and international cooperation in order to achieve the stable and orderly development of the currency market and better serve the global economy.