Federal Reserve Governor Christopher Waller highlighted the potential of stablecoins to maintain and expand the international role of the U.S. dollar during a speech at the Wyoming Blockchain Seminar 2025.
#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_لا_مركزي
Waller spoke in Teton Village, describing the current state of payments as witnessing a "technology-driven revolution" supported by advances in computing, data processing, and distributed networks.
and$XRP
Waller confirmed that stablecoins, which initially facilitated cryptocurrency trading, have evolved to offer attractive features including 24/7 availability, fast transfers, and free trading. These characteristics make them valuable for accessing the U.S. dollar in countries facing high inflation or limited banking services.
"I believe stablecoins have the potential to maintain and expand the dollar’s role internationally. Stablecoins also have the capacity to improve retail and cross-border payments," Waller stated.
The Federal Reserve Governor noted that the GENIUS Act, passed last month, represents the first major legislation for crypto assets to become law in the United States. He described this as "a significant step for the stablecoin market for payments" that could help stablecoins achieve their full potential.
Waller also discussed the role of artificial intelligence in payments, noting that the financial sector has used machine learning since the early 1990s to detect fraud, prevent money laundering, and forecast payment trends. Recent advancements in large language models and generative AI have enhanced these capabilities.
During his remarks, Waller called for a balanced approach to innovation, emphasizing that while the private sector should lead payment innovation, the Federal Reserve plays a crucial role in maintaining a safe and efficient payment infrastructure.
"There is nothing to fear when thinking about using smart contracts, tokenization, or distributed ledgers in everyday transactions," Waller said, comparing these technologies to traditional payment processes.
The Federal Reserve Governor revealed that the central bank is conducting technical research on tokenization, smart contracts, and artificial intelligence in payments, and plans to increase collaboration with innovators in the industry as traditional finance and digital assets continue to converge.
This article has been translated with the assistance of artificial intelligence and has undergone review by an editor. For more details, please refer to our terms and conditions.