Stablecoins Could Boost Dollar as Global Reserve Currency, Fed Governor Says

THE fast growth of crypto could threaten dollar dominance, but It is unlikely due has THE popularity of WE. dollar stable coins, said THE The Fed Christopher Waller.

Own This piece of crypto history

THE popularity of United States denominated in dollars stable coins In decentralized finance (Challenge) can be portion secure THE dollars dominance as A global reserve currency, said Federal Reserve governor Christopher Waller.

"About 99% of stable coin walk capitalization East related has THE WE. dollar," Waller said has A central banking focused conference on Feb. 15.

"People often conjecture that cryptocurrencies as Bitcoin can replace THE WE. dollar as THE of the world reserve currency," Waller added. He note, However, that most Challenge professions to use stable coins largely related has THE dollar.

“Cryptoassets are of facto negotiated In WE. dollars. SO, he East likely that any of them expansion of trade In THE Challenge world will simply to strenghten THE dominant role of THE dollar. »

Together, THE two the biggest stable coins ...