Author: CoinW Research Institute
Summary
This article uses the Venezuela incident as a starting point to point out that stablecoins are repeatedly mentioned not because of speculative narratives, but because in environments where the domestic currency's credit is damaged, the banking system fails, and cross-border capital is restricted, they become a financial tool that ordinary people can still "use." Stablecoins do not offer higher returns; rather, they provide an alternative channel that does not rely on the domestic financial system for payments, settlements, and value storage.
Furthermore, although stablecoins carry risks of centralization and compliance, in the context of systemic failure, "manageable stablecoins" are often still preferable to "fiat currencies that will inevitably depreciate." Their proliferation has objectively extended the influence of the US dollar and, when sovereign currency systems fail, they gradually take on some of the informal global clearing functions. As real usage continues to accumulate, regulatory attitudes are shifting from simple prevention to rule-based management, and the payment and settlement infrastructure around stablecoins