Stablecoins is the best tool for the United States government to maintain the dominance of the US dollar in global financial markets, according to the Chairman of the Board of Directors of Layerzero Labs and its founder, Brian Pellegrino.
In an interview with Cointelegraph, CEO of Layerzero Labs, which created a Layerzero’s inter -operating protocol that I recently chosen by Wyoming to be Distribution partner for Wyoming StablecoinHe said that cross -border access to the dollar’s distinctive symbols makes it a clear option to pay the demand for the US dollar. Pellegrino added:
“Stablecoins for the US dollar is the best one tool – the last Trojan horse attack or vampire on every other currency in the world – whether it is Argentina, whether it is Venezuela, whether it is all countries that have an enormous enlargement.”
The CEO said that support for Stablecoins will grow on both federal levels and state levels due to the clear Stablecoins strengthening of the US dollar in foreign exchange markets and the financial demand moved by Moat Stablecoin about the state of the global reserves of the US dollar.
Stablecoin market overview. source: rwa.xyz
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The US government is looking for Stablecoins to protect the US dollar
Pellegrino cited the emerging role of Tether as one of the largest US Treasury buyers in the world as evidence of the demand for American debt tools from Stablecoin.
The rope has become recently The seventh largest holder of US ministerialistsBy hitting Canada, Germany, Norway, Hong Kong and Saudi Arabia.
Speaking at the White House encryption summit on March 7, US Treasury Secretary Scott Beesen said that the Trump administration will benefit Stablecoins to extend the hegemony of US dollar He pointed out that this will be a top priority for officials in 2025.
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According to 2023 a report From the analysis chain, more than 50 % of all the value of the digital assets that were transferred to countries in the Latin American region, including Argentina, Brazil, Colombia, Mexico and Venezuela in Stablecoins.
The fees for low transactions, relative stability, and the settlement times close to the fixed dollar stability, make these symbolic origins in this real world in the real world Ideal for transfers The value stores for residents in developing countries that suffer from high inflation and capital controls.
magazine: Bitcoin payments are undermined by central stablecoins
