Miran: A Global Stablecoin Glut: Implications for Monetary Policy
From federalreserve.gov
Thank you, I really appreciate the opportunity to speak to you today. I am excited to be discussing stablecoins. This innovation has been unfairly treated as a pariah by some, but stablecoins are now an established and fast-growing part of the financial landscape. Putatively, stablecoins were originally intended to facilitate holding and trading cryptocurrency. But their proliferation has been aided by providing users with a stable store of value, a means of payment, and the ability to move capital quickly, irrespective of territorial borders. Demand for dollars continues to be strong, so it's no surprise that a more ...
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