Gu Yanxi: Libra's Launch to Market Will Have Four Major Impacts

According to Financial Times reports, the Libra stablecoin could hit the market as early as January 2021. It will first launch the Libra Dollar stablecoin, followed by stablecoins based on other fiat currencies. I believe that if Libra launches, it will bring at least the following impacts. First, Libra will expand the influence of the US dollar globally. The existing US dollar currently circulates on a centralized clearing and settlement system. The US dollar can only circulate within the scope that such a system can reach.