US Dollar Stablecoin - A Strategic Chess Piece for Maintaining US Dollar Hegemony

Scott Basset (US Treasury Secretary) stated: "We will maintain the dollar's position as the world's dominant reserve currency and achieve this goal through stablecoins."

As an extension tool of the dollar's influence in the global financial system, how does the US dollar stablecoin reinforce dollar hegemony?

Bypassing capital controls to expand the dollar's cross-border influence: According to data from the Bank for International Settlements (BIS) in 2023, approximately 60 countries globally have implemented capital controls to restrict the flow of dollars within their borders.

Broadening payment channels and enhancing payment efficiency: Traditional cross-border payments (such as the SWIFT system) take an average of 3-5 days, with fees reaching 1%-3% of the transaction amount.

Driving demand for US Treasury bonds and strengthening the dollar's financial foundation: The reserve assets of US dollar stablecoins typically include short-term US Treasury bonds, such as USDC.

It is foreseeable that, due to strong policy support, the entire RWA sector, especially stablecoins, will experience explosive growth during Trump's term.

MilkyWay founder @jaybxyz recently mentioned some impressive points on X:

"In 2024, the trading volume of stablecoins will exceed the total of Visa and Mastercard."

"Stablecoins and RWA are laying the foundation for the next financial era."

Previous data indicated that by 2030, RWA tokenization could unlock over $10 trillion in on-chain value, but existing solutions lack a unified security framework suitable for institutional adoption. Mismatches present opportunities; as the largest liquid staking and re-staking protocol in the modular ecosystem, MilkyWay may consider evolving towards RWA.

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