Gu Yanxi: Analyzing the Business Model of Digital Stablecoins

With the development of blockchain technology and encrypted digital finance products to the present day, one of the main digital finance products that has emerged is digital stablecoins. The initial USDT appeared in 2015 and developed until today, with nearly $14 billion in USDT circulating in the market. After USDT appeared, compliant digital stablecoins gradually emerged in the American market. Representative stablecoins among them include USDC, PAX and GUSD etc. The appearance of Libra has pushed the development of digital stablecoins to an unprecedented height.