In fact, this is wrong, stablecoins have interest, but this interest is not given to you, so now the United States has begun to appear stablecoins that pay interest, and holding stablecoins in the future is the same as holding US dollars or US bonds. It just depends on how the interest will be paid to the user, or whether it will be given to the user.
⚡️ I just watched a speech by CICC Peng Wensheng on stablecoins, which was relatively objective and basically represented the views and attitudes of China towards stablecoins.
I also agree with this part of the excerpt -
From the perspective of money demand, although stablecoins pay zero interest, their demand is still there. It is mainly reflected in four aspects:
1. Crypto asset trading
2. Cross-border payment
3. Currency substitution
4. Regulatory arbitrage
The last point is the same as what @0xsexybanana says today, that a lot of the growth is not coming from the technology itself, but from regulatory loopholes.
At the end of the day, Web3's early penetration path around the world is a history of compliance arbitrage – it's hard to tell, but it's true.
Of course, I don't think this is a bad thing, no new system, new financial order, is perfect from the beginning, and it will always start to attract people from the loopholes.
If you are interested, you can check out the full version, which is 22 minutes long:
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