The National Natural Science Foundation of China has initiated a research project titled "Research on Global Stablecoin Risk Governance and Cross-border Collaborative Regulatory System." This project, part of the 3rd emergency management initiative of 2025, aims to address the challenges posed by stablecoins to the international monetary system and global financial regulations. Stablecoins, which are digital assets pegged to fiat currencies or specific asset values, are increasingly seen as a crucial link between traditional finance and the crypto ecosystem, offering potential for efficient cross-border liquidity.