The Federal Reserve Board of Governors Waller: stablecoins can boost the overall demand for the dollar

[The Federal Reserve Board of Governors] Waller: Stablecoins can boost overall demand for the dollar. [The Federal Reserve Board of Governors] Waller said on Thursday that stablecoins will enhance competition in the payment system, which is a good thing. Waller stated at an event at the Dallas Federal Reserve Bank that the rise of stablecoins will make many types of payments cheaper and faster. "As a free-market capitalist economist, my goal is to drop the costs for households, consumers, and businesses through competition in the payments space," Waller said. He also noted that stablecoins may suppress demand for U.S. paper currency but will enhance overall demand for the dollar.