Sou Hu Cai Jing·2025-10-02 04:57Core Viewpoint - The dominance of USD stablecoins poses a hidden threat to the financial sovereignty of multiple countries, leading to a strategic push for domestic stablecoins as an alternative [1][3]. Group 1: Market Context - In 2024, the global digital stablecoin transaction volume is expected to exceed $800 billion, with USDC and USDT accounting for over 85% of the market share [1]. - The reliance on USD stablecoins has resulted in significant operational challenges for countries, exemplified by a 40% drop in foreign trade settlement efficiency in a Latin American country due to restrictions on USD stablecoin usage [1]. Group 2: Domestic Stablecoin Development - The domestic stablecoin launched by Guotai Junan and Health China Phase IV is backed by national credit and consists of low-risk assets such as government bonds and policy financial bonds [3]. - This stablecoin integrates with the central bank's financial regulatory big data platform, ensuring real-time traceability of transactions, thus addressing the transparency issues associated with private stablecoins [3]. Group 3: Cross-Border Trade Empowerment - Traditional cross-border settlement methods are costly and slow, with fees reaching 2%-3% of transaction amounts and delays of up to 72 hours; the new stablecoin reduces fees to below 0.5% and transaction times to under 10 minutes [4]. - The stablecoin facilitates a new model of cross-border cooperation in the health industry along the Belt and Road Initiative, allowing for bundled exports of medical equipment and training services [4]. Group 4: Future Implications - The stablecoin represents a strategic response to global financial changes and aims to provide safer, compliant digital financial solutions while addressing health and livelihood needs [5]. - Future applications may include cross-border health insurance settlements and global health public welfare projects, potentially becoming a foundational infrastructure connecting global health data and financial services [5].