Introduction
A recent study by HTX Research titled “New Order of Stablecoins: Global Payment Restructuring, Institutional Empowerment, and Capital War (Part 1)” delves into the transformative role stablecoins play within the modern financial ecosystem. This in-depth analysis traces the development of stablecoins from mere instruments for on-chain transactions to pivotal components of a global financial infrastructure, significantly altering the dynamics of cross-border payments, trade settlements, and international capital movements.
Future Projections
The research anticipates that by 2024, stablecoins will achieve a remarkable $15.6 trillion in on-chain transaction volume, positioning themselves as vital alternatives to traditional, costly settlement mechanisms such as SWIFT. This shift is particularly significant in emerging economies, where stablecoins are set to enable smoother capital flows.
Regulatory Landscape
In light of evolving regulatory environments—highlighted by legislative initiatives like the U.S. GENIUS Act, the European Union’s MiCA regulation, and Hong Kong’s licensing framework—the report underscores that stablecoins are at the brink of a comprehensive alignment with institutional frameworks.
Strategic Evolution
HTX Research outlines a strategic “two-stage rocket” model for the evolution of stablecoins. The initial phase will see established financial players like Visa and PayPal spearheading the integration of stablecoins into global payment systems, focusing on applications such as cross-border transactions, trade functions, and commodity exchanges. The second phase hinges on critical regulatory advancements, notably the U.S. Securities and Exchange Commission’s adjustments to streamline security token offerings (STOs), facilitating the digitization of conventional assets—including bonds, stocks, and mutual funds.
Conclusion
As this progression unfolds, stablecoins are poised to transcend their role as simple payment mediums: they are expected to evolve into essential liquidity anchors and settlement cores within the broader on-chain financial architecture. HTX Research posits that the future momentum for stablecoins will extend beyond the cryptocurrency sector itself. They forecast that robust settlement applications across various chains, borders, and financial systems will firmly establish stablecoins as indispensable elements of the global “digital dollar operating system.”
