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Fed's Waller: Stablecoins bring benefits to the payment system

Kitco Media
By Reuters
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Updated:
Reuters
Fed's Waller: Stablecoins bring benefits to the payment system teaser image

April 4 (Reuters) - Federal Reserve Governor Christopher Waller said on Friday that stablecoins are a good thing for the nation’s payment system, but he doubts the financial system can support a large number of these assets.

“I'll say I'm a personal, big advocate of stable coins,” Waller said at an event held at the Federal Reserve Bank of New York. “I have been saying this for over three-plus years now, about how this could bring competition, efficiency and speed into the payment system.”

But he added, “Do I think there's going be 100 stable coins circulating after legislation happens? I don't think so.”

Reporting by Michael S. Derby; Editing by Leslie Adler

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