[Coinbase Executive: U.S. Banks' Concerns About Stablecoins Are a Misinterpretation of the Current Situation] According to Cointelegraph, Coinbase's Head of Policy, Faryar Shirzad, stated that concerns about cryptocurrency stablecoins harming U.S. banks by eroding deposits are unfounded and fail to consider the practical applications of these tokens in the real world. Most demand for stablecoins comes from outside the United States, which expands the global dominance of the U.S. dollar rather than competing with local U.S. banks. Emerging markets use dollar-pegged stablecoins to hedge against the risk of local currency depreciation, and for underserved populations, these tokens provide "a practical way to access dollars." Approximately two-thirds of stablecoin transactions occur on decentralized finance or blockchain platforms, making them a transaction infrastructure for a new financial layer that operates parallel to but largely outside the U.S. domestic banking system. Viewing stablecoins as a threat is a misinterpretation of the current situation. Concerns that community banks will be severely impacted by the widespread use of stablecoins also lack credibility, as typical stablecoin users "are not the same as typical community bank customers." There is almost no overlap between community banks and stablecoin holders, and banks "can leverage stablecoins to improve their services."