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Gary Liu and Liu Xiaochun on what role stablecoins could play in China and the US

South China Morning Post Economic ImpactNews ReportEN 2 min read 100% complete by Kandy WongMarch 24, 2026 at 11:00 PM
Gary Liu and Liu Xiaochun on what role stablecoins could play in China and the US
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AI Summary

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In a South China Morning Post Open Dialogue, Gary Liu, CEO of Terminal 3, and Liu Xiaochun, professor at Shanghai Advanced Institute of Finance, discussed the potential role of stablecoins in China and the US. The discussion centered on the differing approaches of the two countries, particularly regarding Hong Kong's upcoming stablecoin licenses. Stablecoins, cryptocurrencies pegged to other assets, are rapidly growing in popularity. Liu noted that currently, stablecoins are primarily used within the crypto and digital asset finance sector, specifically as an anchor for derivative trading on blockchains. He emphasized their role as essential "plumbing" for decentralized asset finance, enabling the composition and settlement of various tradeable assets. The experts explored the strategic importance of stablecoins beyond simple payments.

Article Analysis

Framing Angle
Economic Impact
Primary framing
Technology
Secondary framing
Measured
Sensationalism
Factual
Fact vs Opinion
OpinionFactual
2
Sources Cited
Limited sources
AI-powered analysis of article framing, tone, and source quality. Scores help identify potential bias and information quality.

Key Claims (5)

AI-Extracted

Hong Kong is expected to issue its first batch of stablecoin licences.

factual — South China Morning Post100% confidence

Stablecoins are cryptocurrencies pegged to fiat currencies or other assets.

factual — South China Morning Post100% confidence

Stablecoins today are almost exclusively used for plumbing in crypto and digital asset finance.

quote — Gary Liu90% confidence

90 per cent of stablecoin use is for pairing transactions with some other asset.

quote — Gary Liu80% confidence

The killer use case for blockchain is derivative trading.

quote — Gary Liu70% confidence
Claims are automatically extracted and should be independently verified. Attribution indicates the stated source of the claim.

Key Entities & Roles

Key Player Opposition Context
China Academy of Financial Research 30% Shanghai Jiao Tong University 30% Shanghai Finance Institute 30% Shanghai Advanced Institute of Finance 40% Web3 Harbour 40% Terminal 3 50% Hong Kong 60% South China Morning Post ×260% United States 70% Liu Xiaochun 70% China ×280% Gary Liu ×490%

Keywords

stablecoins 100% cryptocurrencies 80% digital asset finance 70% blockchain 60% china 60% united states 50% derivative trading 50% digital asset economy 40% hong kong 40%

Sentiment Analysis

Neutral
Score: 0.10

Source Transparency

Source
South China Morning Post
Article Type
News Report
Classification Confidence
90%
Geographic Perspective
China

This article was automatically classified using rule-based analysis.

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stablecoinscryptocurrenciesdigital asset financeblockchainchinaunited statesderivative tradingdigital asset economyhong kong
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