稳定币：这是一种变革而非一种趋势.pdf

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1、Copyright 2025 Deloitte Development LLC.All rights reserved.1DRAFT-FOR DISCUSSION PURPOSES ONLYNYBA Financial Services ForumDigital Assets DiscussionNovember 6th,2025Copyright 2025 Deloitte Development LLC.All rights reserved.2DRAFT-FOR DISCUSSION PURPOSES ONLYSpeaking with you todayRoy Ben-HurManag

2、ing Director,Deloitte&Touche LLPUS Digital Assets Financial Services Lead3DRAFT-FOR DISCUSSION PURPOSES ONLYCopyright 2025 Deloitte Development LLC.All rights reserved.Table of Contents#TitlePage1Level set42A paradigm shift83Stablecoin use cases and market adoption 14Level setCopyright 2025 Deloitte

3、 Development LLC.All rights reserved.5StablecoinsCryptocurrencies Tokenized Bank DepositsDesigned to maintain a stable value relative to a reference asset(e.g.,USD,EUR,gold)Low volatility and intended for use as a medium of exchange,payment,or settlement,providing price stability compared to traditi

4、onal cryptocurrenciesPayment Stablecoins-designed for payment or settlement,with stable valueDigital or virtual currency that uses cryptography for securityOperates on a decentralized systemGenerally higher volatility compared to traditional assetsCan serve various purposes,including payments,smart

5、contracts,and powering decentralized applications(dApps)Designed to modernize banking by enabling faster,programmable,and secure transactions.Far less volatile than cryptocurrencies,as it is backed by fiat currency.Serve to improve settlement efficiency,transparency,and integration with digital fina

6、nce.USDT(Tether),USDC(Circle)Bitcoin,Ethereum,LitecoinCiti Coin,JPM CoinExampleDefinition DRAFT-FOR DISCUSSION PURPOSES ONLYRWA(Real World Asset)TokensDigital Securities CBDCsA digital asset that represents a utility,ownership,or access right on a blockchain.Volatility varies depending on token purp