Stablecoins can bolster dollar’s international role, says Waller

Stablecoins have the potential to maintain and extend the dollar’s international role, US Federal Reserve governor Christopher Waller has said.

Addressing a conference on stablecoins in San Francisco on February 12, Waller said dollar stablecoins could be “particularly appealing to those in high inflation countries or to those without easy or affordable access to dollar cash or banking services”. Their primary use case, he said, was as a safe store of value in the crypto ecosystem.

Waller also