HTX Research releases latest stablecoin research report: Exploring the profound impact of stablecoin restructuring on the global payment system

BlockBeats News: On July 31st, HTX Research released a heavyweight report titled "The New Order of Stablecoins: Global Payment Restructuring, Institutional Confirmation, and Capital Wars (Part 1)", which systematically analyzes how stablecoins have evolved from on chain trading tools to global financial infrastructure and are reshaping cross-border payments, trade settlements, and capital flow patterns. The report points out that the total transaction volume on stablecoin chains has reached $15.6 trillion by 2024, gradually replacing traditional high cost settlement systems such as SWIFT and becoming an important channel for capital flows in developing countries. With the gradual clarification of regulatory frameworks such as the US GENIUS Act, EU MiCA regulations, and Hong Kong licensing system, stablecoins are entering a critical window of comprehensive compliance and institutional development. The report proposes a "two-stage rocket" expansion path for the development of stablecoins: the first stage is led by traditional financial institutions such as Visa and PayPal, promoting the integration of stablecoins into the global payment system, and taking the lead in landing in cross-border settlement, trade payments, commodity transactions, and other scenarios; The second level relies on regulatory breakthroughs, especially the US SEC relaxing the issuance threshold for securities tokens (STOs) and promoting the on chain conversion of traditional assets such as bonds, stocks, and funds. At that time, stablecoins will not only be payment tools, but also become the liquidity anchor and clearing core of the on chain financial system. HTX Research believes that the future growth momentum of stablecoins is no longer limited to the cryptocurrency industry, but comes from their extensive settlement applications across chains, borders, and systems, gradually becoming a key component of the global "digital dollar operating system".