Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
Stock CFD Derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
3.8%
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
tag
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi（新）
JMKE IPO
Rewards
Square
Latest
Hot
News
Profile

Opinion: The macro-financial significance of stablecoins depends on where the reserve assets ultimately end up, not the technology layer.

MeNews
robot
Abstract generation in progress
ME News, April 27 (UTC+8): Neira, an architect of Tempo’s tokenized financial product, wrote that the macro-financial significance of payment stablecoins lies not in the software layer, but in the final destination of the reserve assets: if reserves flow into bank deposits, they will restructure the banking system; if they flow into short-term government bonds, they will suppress short-end yields (BIS data: for each unit of net inflow, the 3-month government bond yield falls by 2.5 to 3.5 basis points). If reserves are held at the central bank, it is close to “narrow bank money.” In the cross-border payments layer, stablecoins are essentially a currency exchange business; the key bottleneck is the pre-crediting capacity of destination counterparties, not the on-chain settlement speed. The author believes regulators should monitor the reserve destination and net issuance volume as core indicators, rather than market capitalization. (Source: Foresight News)
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments

  • Pinned

Sitemap