According to online reports, Zhou Xiaochuan, former governor of the People's Bank of China, said at the 2025 Lujiazui Forum that the stablecoins that are being talked about are the U.S. dollar stablecoins. Although other places want to issue local currency stablecoins, it is still "hard to say" what role they can play in the world. Dollar stablecoins may have a global impact. Zhou Xiaochuan believes that the dollar stablecoin may assist dollarization. The impact of dollarization on the economy is controversial. Unless faced with extreme situations such as high inflation and high debt, dollarization may have many side effects. He suggested that when talking about the possible future role of stablecoins, one needs to have a "string" in mind and think about whether to engage in dollarization and its economic impact on specific countries. (Shanghai Stock Exchange)