Toss's Financial Management Research Institute, Toss Insight, announced on the 26th that it has published its first report, "Stablecoins: The Rise of a New Financial Infrastructure."
This report views stablecoins not merely as digital assets but as a new task at the intersection of financial policy and private innovation. Amid discussions at a global level about the stability and direction of financial systems, it starts from the awareness that organizing facts and establishing a coordinated framework is essential. To this end, it comprehensively addresses the structure and operation of stablecoins by cross-applying perspectives from monetary theory, financial economics, and industrial organization.
The report organizes the definition and main features of stablecoins, followed by an overview of the market situation and expansion background. Furthermore, it analyzes the three value chains of stablecoins: the infrastructure industry, issuance and distribution industry, and application solutions industry. It broadly illuminates actual cases from global issuers and financial corporations along with regulatory trends.
Through this report, Toss Insight balanced the opportunities and challenges possessed by stablecoins. It is expected to contribute to the establishment of policy and industrial response strategies necessary in the digital currency era by providing analyses and insights that can be referenced by policy authorities, financial institutions, and researchers.
Hong Gi-hoon, head of Toss Insight, noted, "Stablecoins are being recognized as an important link that connects the existing financial system and the digital economy," adding, "I hope this report serves as foundational material for constructive discussions and the design of policy responses regarding stablecoins."