CITIC Securities: Building a stablecoin financial ecosystem becomes key, focusing on innovative business opportunities derived from real-world asset on chain (RWA)

CITIC Securities pointed out that stablecoins anchored in fiat currencies may become the most accepted and secure mainstream form of stablecoin. From the perspective of underlying logic, stablecoins can continue the core functions of fiat currency, such as value measurement, value transfer, value storage, and value intertemporal transfer, and are expected to become the most important financial medium in the Web3 world. Stablecoins have a significant impact on fiat currencies and their minting rights, depending on the extent of their support for economic activity and the strength of their anchoring to fiat currencies. In the process of restructuring the global monetary system, major international monetary sovereign countries all hope to gain a first mover advantage. Looking ahead, it is currently difficult to predict the potential size of the stablecoin market, but there is a possibility of non-linear growth. From the perspective of the prospects of the stablecoin industry chain, fintech companies on the issuing end have the advantage, while the usage scenarios have broad space in custody, trading, wealth management, and financing. In the long run, building a stable coin financial ecosystem becomes key, and attention should be paid to innovative business opportunities derived from real-world asset on chain (RWA).