Mumbai, Aug. 21 -- Federal Reserve Governor Christopher Waller has noted that stablecoins can reinforce US dollar dominance. He stated that the original use of stablecoins was to facilitate crypto trading. Crypto-asset prices can be volatile and as with any financial market, there is a need for traders to move out of relatively risky positions into safer ones with a stable asset price. As the stablecoin market matured, firms found that the properties of stablecoins using distributed ledger technology- including 24/7 availability, fast transferability, and their freely circulating nature -could be attractive for other use cases as well. That includes providing a means to access and hold U.S. dollars, particularly in countries with high inf...
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