Federal Reserve Governor Christopher Waller has expressed his support for stablecoins in the US payments system, but believes the financial system cannot support a large number of these assets. Waller believes that stablecoins could bring competition, efficiency, and speed to the payments system. Waller also highlighted the challenge of speeding up the payments system, as everyone wants to get paid quickly but not send cash as quickly.
Federal Reserve Governor Christopher Waller has expressed his support for stablecoins in the US payments system, but believes the financial system cannot support a large number of these assets. Waller believes that stablecoins could bring competition, efficiency, and speed to the payments system. Waller also highlighted the challenge of speeding up the payments system, as everyone wants to get paid quickly but not send cash as quickly.