Odaily News Zhou Xiaochuan, former governor of the People's Bank of China, said at the 2025 Lujiazui Forum that the most talked-about stablecoin now is the US dollar stablecoin. Although other places want to issue stablecoins in their own currencies, it is "hard to say" what role they can play in the world, while the US dollar stablecoin may have a global impact. Zhou Xiaochuan believes that the US dollar stablecoin may assist dollarization. The impact of dollarization on the economy is controversial. Unless faced with high inflation, high debt and other unavoidable situations, dollarization may bring many side effects. He suggested that when talking about the role that stablecoins may play in the future, we need to "have a string" in our minds and think about whether to engage in dollarization and the economic impact of dollarization on specific countries. (Shanghai Securities News)