China, Japan and other countries challenge the Stablecoins Crusades on USD Page

There has been much said, especially when genius acts provide a more clear framework for publishers, especially now, about how the US economy can benefit from the stable rocks of the US pages. But can other countries benefit from issuing Stablecoins fixed in their respective currency? Yes, they can and some countries have already taken part in the race.

Stubcoin on USD page as medicine in the US economy

The US rejected plans to develop central bank-issued digital dollars. Critics of the digital dollar cited privacy issues. Central banks should not have much control and data than the transactions people make.

Instead, the government encouraged private and public companies to issue stupid blockchain-based money, usually backed by US dollars or US Treasury bills, backed by 1:1 real assets. Most stable coins out there are fixed to USD (all 99% are fixed to USD), so each has a value equal to 1 USD. Stablecoin publishers don’t generate yields directly on Stablecoins, but they gain interest by holding US financial bills that will regain those coins.

While the government may seem to have given the benefit of control and supported the market, it is actually a company that buys the US dollar and T-bil because it has to create new growth opportunities for stable companies and support stable ones. This condition is required by the Genius Act, signed by President Donald Trump on July 18, 2025.

Stablecoins are freely circulated worldwide and are so popular in the Global South where local currencies lose their value to USD, residents of these countries are enthusiastically using USD peg stubcoins as remittances and savings assets. Their demand for USD page Stablecoins increases demand for USD and T-Build, as publishers must support stablecoins with these assets.

Arthur Hayes, co-founder of Bitmex Exchange, explained how Stablecoins work for the US economy and wrote in his newsletter.

“Tether’s business model is very simple. You receive dollars, issue digital tokens on public blockchains, invest dollars in T-Bill, and get (the net interest margin, the interest rate set by the Federal Reserve) (US Secretary of Scott, the Treasury). Things.”

Hayes emphasizes that most countries except mainland China use American social media apps. If these platforms begin to support USD peg Stablecoin transfers, they could cause major capital outflows from the Global South, and could significantly increase demand for the US dollar. More than that, it could effectively replace local banks with US-controlled digital currency.

On August 26, Trump vowed to impose substantial tariffs on countries that “stop discriminating against American technology” through digital taxes and digital market regulations. This means, for example, fighting the implementation of Stablecoin transactions on WhatsApp will be a costly move for other countries.

If the US is printing dollars, it reduces the US dollar reserves held by foreign countries. It’s no wonder that many countries have been fond of buying money these days. The combination of the power of American stubcoins and American technology may turn the US dollar into a stronger currency than it is now.

The downside is that exports from the US are too high. Given that Trump wants to boost US manufacturing and exports, a strong dollar may not be the way to go. Some may argue that the US national debt becomes a bigger issue when the value of the US dollar increases, but the demand for stable coins will drive demand for T-Bill and gradually repay the debt.

read more: US government bonds exceeded $37 trillion. Will the US reward it? Is cryptography useful?

China is approaching launching the original sturdy stablecoin

China is one of the few countries with a powerful social media giant like WeChat. Launching the original sturdy stablecoin may have similar effects to what the US is doing. China’s economy is export-driven. In that context, stubcoins can be a more attractive tool than the original bank transfer, offering immediate and low-cost transfers.

Therefore, Chinese authorities have decided not to wait until the American stubcoin is replaced. In 2021, China launched Digital Yuan, a CBDC that has not gained much traction, but services like Wechat Pay and Alipay have lost popularity.

In May 2025, Hong Kong adopted the Stablecoins bill. On August 20th, China’s State Council was reported to be working on launching the original sturdy, ridiculous stable rock for international trade.

If the stubcoins issued by the original bank become a reality, they may refute the invasion of stablecoin covered in US dollars. Given that Renminbi’s market share has fallen below 3% (USD share is above 47%), China is looking for something.

read more: China contemplates the yuan support idiot stubcoin to counter the domination of the dollar: Report

The sturdy stub coin for Yen will be released in Japan soon

Monex Group is a financial company based in Tokyo. It made the headline on August 26th. It revealed an ambitious plan to launch a circular stubcoin. Monex is about to repeat the American formula. Japan lacks social media resources the US and China have, so yen stubcoins are somewhat limited for this race.

Nevertheless, the company aims to support the coin with a Japanese government bill. Stablecoins are set up to help with cross-border remittances and business transactions. The project could be supported by Coincheck, a crypto exchange owned by Monex Group. More than that, Monex Chairman Matsumoto claims that Monex will acquire several European crypto companies expanding Monex’s Stablecoin platform. The launch of Stablecoin is scheduled for fall 2025.

The European Union’s efforts

European Central Bank economist Piero Sipolone cited the growing stubcoin on USD page as a reason to rush the launch of the digital euro. In the growing de-cooperative narrative, the digital euro may come as a potential replacement for the US dollar.

It was revealed on August 22, 2025 that in order to speed up the launch of the digital euro, the EU is considering using public blockchains, namely Ethereum and Solana, instead of creating a private blockchain controlled by a central bank.

The news was filled with criticism from the crypto community. According to multiple commenters, when launched on Solana or Ethereum, the digital euro will be the worst variant of CBDC. Transactional data will be available on public blockchains, but central banks will further enhance transactional data.

There are several stable coins in the Euro family in the circulation. However, combined, it accounts for only 0.2% of the overall Stablecoin market. It’s not clear how powerful it is in the ongoing race, given that Europe lacks meta or products like WeChat that can dramatically promote the adoption of euro stubcoin.

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