The launch of the new stablecoin USD1, pegged to the US dollar and backed by US government short - term Treasuries, will likely have a significant impact on the stablecoin landscape and cryptocurrency market. In the stablecoin space, it may disrupt the dominance of existing major players like USDT and USDC. As for the overall cryptocurrency market, it could increase market liquidity as more investors might be attracted due to its relatively stable nature. However, it might also heighten regulatory scrutiny, which could either boost market confidence if regulations are seen as positive or cause short - term price fluctuations if there are uncertainties.