From crypto to commerce: Navigating stablecoins in Asia

FOR over a decade, the crypto asset landscape has been defined by extreme volatility: periods of speculative frenzy followed by sharp contractions. Yet, amid these cycles, stablecoins have emerged as an innovative bridge between the decentralised crypto ecosystem and traditional finance.

With the recent adoption of the Genius Act in the US, the global landscape is shifting. The Asean+3 Macroeconomic Research Office’s (Amro) latest policy paper, Stablecoin: Implications for the Asean+3 Region, looks past the headlines to ask a fundamental question: Is this technology a viable evolution of our financial architecture, or merely a risk to monetary sovereignty?

The answer depends on the rigour of our regulatory response, and lies in how we choose to build the future.