Federal Reserve Governor Waller: Stablecoins can boost overall demand for the US dollar

According to Golden Finance, Federal Reserve Governor Waller stated on Thursday that stablecoins will enhance competition in payment systems, which is a good thing. Waller stated at an event at the Federal Reserve Bank of Dallas that the rise of stablecoins will make many types of payments cheaper and faster. As a free-market capitalist economist, my goal is to reduce costs for households, consumers, and businesses through competition in the payment sector, "Waller said. He also stated that stablecoins may suppress demand for US paper currency, but will enhance overall demand for the US dollar.