Stablecoin, one of the most popular crypto products currently available, has become a topic of policy discussion, with a number of related bills under consideration in the U.S. Congress. One of the key factors driving this discussion is the realization that stablecoins can help continue to strengthen the international influence of the U.S. dollar as its status as the global reserve currency is eroding. Currently, more than 99 percent of stablecoins are denominated in U.S. dollars, far outpacing the euro, the second largest currency, which accounts for only 0.20 percent. The widespread use of stablecoins reinforces the dollar's dominant position in the digital asset market and provides a new way for the U.S. to maintain its dominance in the global financial system.