Stablecoins：加密货币与传统金融之间的桥梁

近年来，Stablecoins在加密货币和全球金融世界中越来越重要。

In recent years, stablecoins have gained an increasingly significant role in the world of cryptocurrencies and global finance. Initially created as a digital equivalent of traditional fiat currencies, these cryptocurrencies, whose value is stably linked to real currencies like the US dollar, have become fundamental tools for investors, companies, and financial institutions, also thanks to their ability to address the issue of high volatility typical of cryptocurrencies like Bitcoin and Ethereum.

近年来，Stablecoins在加密货币和全球金融世界中越来越重要。这些加密货币最初是作为数字等同的数字化等效性的，其价值稳定地与诸如美元的真实货币稳定相关，也已成为投资者，公司和金融机构的基本工具，也是由于它们能够解决典型的加密货币（例如比特币和以太币）的高波动性问题。

Stablecoins represent, in fact, a crucial bridge between cryptocurrencies and traditional (fiat) currencies. They allow for maintaining capital stability in the crypto market and facilitate the transition from conventional financial systems to digital ones, enabling fast, economical, and secure international transactions.

实际上，稳定币代表了加密货币与传统（法定）货币之间的关键桥梁。它们允许在加密市场中维持资本稳定，并促进从传统的金融系统到数字系统的过渡，从而实现快速，经济和安全的国际交易。

The main stablecoins on the market: USDT, USDC, and DAI

市场上的主要稳定币：USDT，USDC和DAI

According to CoinMarketCap, the most widespread stablecoins currently are USDT (Tether), the undisputed leader with a capitalization exceeding 150 billion dollars, followed by USDC (Circle) with about 60 billion and DAI with about 6 billion dollars. A fundamental characteristic of many of these stablecoins is that their value is primarily guaranteed by reserves in government bonds, particularly American ones. This direct relationship with bond markets makes stablecoins not only stable but also strategic for the management of global financial risk.

根据CoinMarketCap的说法，目前最广泛的Stablecoins是USDT（Tether），这是无可争议的领导人，其资本化超过1500亿美元，其次是USDC（Circle），约600亿美元，大约60亿美元，约有60亿美元。许多这些稳定币的基本特征是，它们的价值主要由政府债券（尤其是美国债券）的储备提供的保证。与债券市场的这种直接关系使稳定的人不仅稳定，而且使管理全球金融风险的战略性。

Stablecoin and American public debt: a strategic relationship

Stablecoin和美国公共债务：战略关系

Stablecoins could also help stabilize the public debt situation, particularly the US debt, which has recently surpassed 36.5 trillion dollars, reaching record levels. A constant demand for stablecoins, in fact, would ensure a continuous flow of buyers for US government bonds, mitigating the risk associated with a potential shortage of investors.

Stablecoins还可以帮助稳定公共债务状况，尤其是最近超过365万亿美元的美国债务，达到了创纪录的水平。实际上，对稳定币的需求不断，将确保购买者持续流动美国政府债券，从而减轻与潜在的投资者短缺相关的风险。

A significant example of this dynamic is Tether, which is developing ambitious plans to further expand into emerging markets, improve the transparency of reserves, and align with emerging regulations. If effectively realized, these projects could make stablecoins even more central in global economic transactions.

这种动态的一个重要例子是束缚，它正在制定雄心勃勃的计划，以进一步扩展到新兴市场，提高储备金的透明度，并与新兴法规保持一致。如果有效地实现，这些项目可能会使稳定币在全球经济交易中更加核心。

Why stablecoins are attracting more and more institutional investors

为什么Stablecoins吸引越来越多的机构投资者

The constant growth of the total capitalization of stablecoins, even during negative periods for other cryptocurrencies, confirms their function as a safe and reliable haven to remain in the crypto world without undergoing its typical fluctuations, while simultaneously increasing the trust and interest of institutional and private investors. 

即使在其他加密货币的负面时期，稳定蛋白的总资本化的不断增长也证实了它们作为安全可靠的避风港的功能，可以留在加密货币世界中，而没有经历典型的波动，同时增加了机构和私人投资者的信任和利益。

This positive trend is also a clear signal of the growing general interest in the world of cryptocurrencies, indicative of an ever-increasing acceptance and integration of these technologies into global finance.

这种积极的趋势也是一个明显的信号表明，对加密货币世界的普遍兴趣日益增长，这表明这些技术的接受和整合到全球金融中。

The digital payments sector is also strongly focusing on stablecoins. Giants like Stripe see them as the key for instant, economical, and secure payments, ideal especially for e-commerce and for companies operating globally. 

数字支付部门也非常专注于稳定剂。像Stripe这样的巨人将它们视为即时，经济和安全付款的关键，尤其是电子商务和全球运营的公司。

This growing adoption could represent a fundamental step towards a mass spread of stablecoins, allowing for greater financial inclusion and opening new economic opportunities, especially in emerging countries where access to traditional banking systems is limited.

这种日益增长的采用可能代表着大规模的稳定者迈出的基本一步，允许更大的财务包容性并开放新的经济机会，尤其是在进入传统银行体系的新兴国家中。

Stablecoin in DeFi: stability and yield in the new financial ecosystem

defi中的Stablecoin：新金融生态系统中的稳定性和产量

Stablecoins have also become fundamental in the landscape of decentralized finance (DeFi). They offer not only stability and security to users but also the possibility of obtaining returns through loans, interest, and other advanced financial services.

稳定币在分散金融（DEFI）的景观中也已成为基础。他们不仅为用户提供稳定性和安全性，还可以通过贷款，利息和其他高级金融服务获得回报。

The ability of many stablecoins to operate on multiple decentralized blockchains ensures greater flexibility, transparency, and security, elements highly appreciated by users around the world.

许多稳定剂在多个分散的区块链上运作的能力可确保更高的灵活性，透明度和安全性，这是全球用户高度赞赏的元素。

Risks and controversies: the USD1 case of the Trump family

风险和争议：特朗普家族的USD1案件

However, there are no shortages of critical issues and challenges. A discussed example is USD1, a stablecoin introduced by the Trump family through their company World Liberty Financial, which has raised doubts about transparency and potential conflicts of interest.

但是，没有缺乏关键问题和挑战。一个讨论的例子是USD1，这是特朗普家族通过其公司World Liberty Financial引入的Stablecoin，这引起了人们对透明度和潜在利益冲突的怀疑。

The main issue among these concerns the fact that a private company connected to the family of the President of the United States profits from the purchase of U.S. public debt securities, used to guarantee the value of the stablecoin itself.

这些主要问题涉及这样一个事实，即一家私人公司通过购买美国公共债务证券的利润与美国总统的家族有关，用于保证Stablecoin本身的价值。

This implies that the private company could derive direct economic benefits from the government’s political decisions regarding the issuance and management of debt, generating concerns about possible political influence and the impartial management of economic policies. Episodes like these highlight the importance of clear and strict regulations to protect users and ensure trust in the system.

这意味着私人公司可以从政府关于发行和管理债务的政治决定中获得直接的经济利益，从而对可能的政治影响以及对经济政策的公正管理产生关注。这样的情节强调了清晰而严格的法规对保护用户并确保对系统的信任的重要性。

Regulations Compared: USA vs Europa

法规比较：美国与欧罗巴

A fundamental aspect remains precisely the regulatory one. International regulations, currently fragmented and not very uniform, are crucial to ensure clarity and security for investors. In the United States, the discussion on new specific regulations for cryptocurrencies and stablecoins is at the center of the political debate. 

基本方面仍然是监管方面。国际法规目前分散而不是很统一，对于确保投资者的清晰度和安全至关重要。在美国，关于加密货币和稳定的新特定法规的讨论是政治辩论的中心。

The President Donald Trump, for example, has recently stated that he is ready to sign specific laws as early as August, which could significantly contribute to creating a more defined and stable environment for the sector.

例如，唐纳德·特朗普（Donald Trump）总统最近表示，他准备早在八月之前就签署特定法律，这可能会为为该行业创造一个更明确和稳定的环境做出重大贡献。

Well-structured regulations could further accelerate the mass adoption of stablecoins, reassuring operators and encouraging substantial investments. 

结构良好的法规可以进一步加速大规模采用Stablecoins，使运营商放心并鼓励大量投资。

On the other hand, in Europe, the debate on digital currencies proceeds with greater caution and slowness compared to the United States, with the concrete risk that the Old Continent falls behind in the race for global financial and technological innovation. This delay could limit European competitiveness in the fintech sector

另一方面，在欧洲，关于数字货币的辩论与美国相比要谨慎和缓慢进行，其旧大陆在全球金融和技术创新竞赛中落后于旧大陆的具体风险。这种延迟可能会限制欧洲金融科技领域的竞争力