TechFlow, July 11 — According to Jinshi Data, Federal Reserve Governor Waller said on Thursday that stablecoins will enhance competition in the payment system, which is a good thing. Speaking at an event hosted by the Federal Reserve Bank of Dallas, Waller stated that the rise of stablecoins will make many types of payments cheaper and faster. "As a free-market capitalist economist, my goal is to reduce costs for households, consumers, and businesses through competition in payments," Waller said. He also noted that stablecoins might dampen demand for U.S. paper currency but would strengthen overall demand for the U.S. dollar.
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