US, UK Central Bankers Offer Contrary Views on Stablecoins

At the 32nd Dubrovnik Economics Conference, US Federal Reserve governor Christopher Waller said growing use of dollar-backed stablecoins could bolster the global influence of US monetary policy. "I've always just looked at ​stablecoins as a payment instrument; there's nothing evil about it, nothing dangerous about it," he said.

"They ​are just bringing competition into the payments world." Bank of England policymaker Megan Greene offered a contrasting view, predicting stablecoins could fade within a few years. "I think tokenized deposits are probably going to take over from stablecoins and ​five years from now, I suspect we might wonder why we were talking about stablecoins," she said during a panel titled "Stablecoins and monetary policy" at the Croatian National Bank event.

Waller, a long-time skeptic of central bank digital currencies, said enthusiasm for CBDCs has faded among many central banks.

Croatia, Dubrovnik

stablecoins, dollar-backed, monetary policy, christopher waller, megan greene, federal reserve, cbdcs, tokenized deposits, payments, dubrovnik