Binance News
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Citibank report: Stablecoins could strengthen the dollar's dominance
According to BlockBeats, Citibank pointed out in its latest report that stablecoins may consolidate the dominance of the US dollar and challenge the claim that Bitcoin will end the US dollar hegemony.
The report said that USDT is challenging the view that Bitcoin will end the hegemony of the US dollar. Most stablecoins are pegged to the US dollar, and the issuers hold US dollars and US Treasury bonds.
Citi analysts said that if the US government further legalizes stablecoins, it may enhance the dominance of the US dollar and increase the attractiveness of stablecoins, and the demand for US Treasury bonds by stablecoin issuers may increase.
The report said that USDT is challenging the view that Bitcoin will end the hegemony of the US dollar. Most stablecoins are pegged to the US dollar, and the issuers hold US dollars and US Treasury bonds.
Citi analysts said that if the US government further legalizes stablecoins, it may enhance the dominance of the US dollar and increase the attractiveness of stablecoins, and the demand for US Treasury bonds by stablecoin issuers may increase.
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