USD Stablecoins Dominance Raises Calls for Taiwan-Issued Digital Currency

USD stablecoins dominance is reshaping global digital finance, prompting calls for Taiwan to issue a New Taiwan dollar stablecoin to safeguard monetary sovereignty and keep exporters competitive, fintech expert Jeff Wen said.

He noted that USD stablecoins dominance accounts for about 99% of global issuance and allows tokens to move rapidly across borders.

Wen argued that a Taiwan-issued stablecoin would enable tokenised real-world assets to be priced and settled locally as finance shifts on-chain.

Taiwan’s trade promotion body estimates nearly 5% of domestic firms and more than 10% of Taiwanese companies operating overseas are testing stablecoins for cross-border payments.

Regulator Peng Jin-long said a Taiwan-issued stablecoin could debut in the second half of 2026 if virtual-asset legislation and rules are approved.

While critics point to Taiwan’s efficient payment rails, officials said growth in RWAs and domestic use cases strengthens the case.