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On the one hand, the participants of stablecoins are becoming more and more diversified. Recently

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a number of traditional institutions and governments have announced their entry into the stablecoin track. For example, Japan internet giants DMM Group and Progmat announced a joint study to issue stablecoins for use in digital economic zones; Mercado Pago, a digital bank owned by Latin America e-commerce giant Mercado Libre, announced the launch of Meli Dollar, a US dollar stablecoin in Brazil, which allows users to buy and sell the stablecoin with no fees using the balance of Brazil real; A...