ChainCatcher message, brokerage firm Bernstein released a report indicating that the importance of stablecoins in the global financial system is increasing. Stablecoins are cryptocurrencies designed to maintain a stable value, typically pegged to the US dollar, although there are also stablecoins pegged to other currencies and assets, such as gold.The report noted that after a decline in supply in 2023, the circulation of stablecoins has now rebounded to a record $170 billion, and the monthly on-chain payment volume has tripled over the past 12 months, reaching $1.4 trillion in July. The team led by analyst Gautam Chhugani wrote, "Stablecoins provide international users with access to dollar savings, promoting the digital dollar beyond the United States."The report also highlighted that these cryptocurrencies are achieving deeper integration with payment and fintech companies such as PayPal (PYPL), MercadoLibre (MELI), and Grab (GRAB).

ChainCatcher news, brokerage firm Bernstein stated in a research report on Thursday that the importance of stablecoins to the global financial system is growing, and they have become the 18th largest holder of U.S. Treasury securities.The report noted that after a decline in supply in 2023, the issuance of stablecoins has now returned to a historical high of $170 billion, with on-chain monthly payment volumes doubling over the past 12 months, reaching $1.4 trillion in July.The report pointed out that these cryptocurrencies are increasingly being integrated with payment and fintech companies such as PayPal (PYPL), MercadoLibre (MELI), and Grab (GRAB). Stablecoins are also being used more frequently for cross-border payments. Bernstein stated, "Dollar stablecoins on the crypto rails are now the cheapest cross-border payment rails."

ChainCatcher news, ByBit's institutional head Chris Aruliah has a different view on the impact of interest rate cuts on the crypto market. Aruliah wrote in an email statement: "The softening economic indicators and the geopolitical complexities leading to a general slowdown in the global economy are weakening investor sentiment. Therefore, while the Federal Reserve's decision to cut the policy rate by 0.5% may provide a short-term boost to the cryptocurrency market, it is crucial to remain vigilant about the potential challenges posed by economic uncertainty and market volatility."BitMEX co-founder Arthur Hayes pointed out in an interview that he believes an overall rate cut is unnecessary, and a 50 basis point cut would trigger a brief market rebound but ultimately expose deeper issues within the global financial system, leading to further price declines.He stated: "At a high level, I think they shouldn't raise rates. I believe the U.S. economy is quite strong. If you look at the GDP data from the past eight or nine quarters, you'll see it has been consistently growing. If they decide to continue cutting rates, inflation will accelerate into the fourth quarter."

ChainCatcher news, according to Cointelegraph, Chainlink founder Sergey Nazarov stated that the current crypto market cycle is unique due to a large influx of new buyers, which may lead to a faster adoption of RWA tokenization than the industry initially expected. Recent participants in the crypto market are not limited to retail investors reacting to mainstream media reports on cryptocurrency price fluctuations; new buyers are coming from various sectors of the global financial system, representing a very large group of buyers. The recently approved Bitcoin ETF is just the beginning of facilitating easier access to the market.Meanwhile, Sergey Nazarov predicts that RWA tokenization will become the next major trend in the crypto market.

ChainCatcher news, the Monetary Authority of Singapore (MAS) released its annual financial stability assessment on Friday (November 25), which pointed out that Singapore's households, businesses, and financial sector remain resilient to market shocks, but should stay vigilant in more challenging circumstances.In terms of cryptocurrency, the MAS noted that recent bankruptcies of crypto entities highlight the risk of contagion within the global ecosystem, but due to the limited connections between the crypto industry and traditional finance, these events have not had a significant impact on the broader global financial system. "Given the rapidly growing potential of the global crypto asset ecosystem, vulnerabilities related to crypto and their impact on global financial stability need to be closely monitored and appropriate regulations implemented." (source link)