Shenchao TechFlow news, on October 25, according to The Block, JPMorgan analysts pointed out that the tokenized government bond market is growing and may challenge the dominance of stablecoins. However, due to regulatory restrictions and liquidity issues, tokenized government bonds may only partially replace stablecoins. Although tokenized government bonds offer yields without complex trading or lending strategies, their classification as securities limits widespread adoption in the market.

Analysts believe that tokenized government bonds may partially replace stablecoins as collateral for crypto derivatives trading in the future, but the possibility of completely replacing stablecoins is low.