Bank of China Securities Global Chief Economist: The US dollar stablecoin is not a US legal tender currency, and it is not appropriate to be mythical or superstitious about stablecoins
2025-07-19 10:45:52
According to Caixin, at the recent online seminar of the China Macroeconomic Forum (CMF), Guan Tao, global chief economist of Bank of China Securities, said that the US dollar stablecoin is not a legal compensation currency in the United States, and lacks the guarantee of sovereign credit. For stablecoins, you can take a "wait-and-see" attitude. There is no need to rush, there is no need to "myth" or "superstition" stablecoins, and you should maintain the strategic determination to develop digital currencies and promote the internationalization of the RMB. Guan Tao believes that the full amount of customer funds paid by third parties such as WeChat and Alipay is hosted in the People's Bank of China, which is similar to the issuance of 1-to-1 stablecoins. In reality,
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