Group 1 - The core viewpoint is that stablecoins are gaining popularity due to their inherent value support compared to traditional cryptocurrencies like Bitcoin and Ethereum, which are highly volatile and speculative [1][3] - Stablecoins utilize a value anchoring mechanism, often backed by sovereign currencies, government bonds, or other reputable financial assets, providing them with relatively stable intrinsic value [1][3] - The acceptance and usage scale of stablecoins are rapidly increasing due to their stability advantage over traditional cryptocurrencies [3] Group 2 - Current challenges for stablecoin applications include hesitation from some countries regarding the advancement of Central Bank Digital Currencies (CBDCs), as stablecoins are seen as close alternatives but are privately issued [3][4] - The correlation between the cryptocurrency market and traditional financial assets has significantly increased, with stablecoins now being used more frequently as settlement tools in cryptocurrency transactions [3][4] - Traditional financial institutions, such as investment funds, are beginning to allocate stablecoins, indicating a shift in how investment decisions and returns are influenced by the cryptocurrency market [4] Group 3 - There is skepticism about the short-term opening of stablecoin pilot programs in mainland China, as financial regulators are focused on managing risks associated with the expanding stablecoin market [4] - The potential issuance of offshore RMB stablecoins in Hong Kong raises concerns about exchange rate mechanisms and the possibility of creating arbitrage opportunities between mainland and Hong Kong currencies [4] - The future of stablecoin development in the U.S. is uncertain, as innovations often have dual aspects that need to be considered [4]