Stablecoins is the single best tool for the United States government to maintain the US dollar hegemony in the global financial market, according to the CEO of Layzero Labs and founder Bryan Pellegrino.
In an interview with Cointelegraph, the CEO of Layerzero Labs, which created the Layerzero Interoperability protocol recently chosen by Wyoming to be the Distribution partner for wyoming stablecoin. Pellegrino added:
“The Stablecoins for the US dollar is the single best tool -the last Trojan attack or vampire attack on every single other currency in the world -whether it’s Argentina, whether it’s Venezuela, if it’s all countries with massive inflation.”
The CEO said he expects support for stablecoins at both the federal and state levels that have grown due to the clear strengthening of stablecoins given to the US dollar in foreign exchange markets and the financial stablecoin-driven demand will create around the status of the US dollar’s global money reserves.
Overall -Stablecoin Market Source: Rwa.xyz
Related: Some stablecoins are not security, Sec says to the new guidance
The US government looked at Stablecoins to protect the US dollar
Pellegrino noted Tether’s emerging role as one of the largest consumers of US bills in the world as evidence of demand for US debt instruments from Stablecoin providers.
Tether has recently been the Seventh-largest US Treasury owner’s largest ownerBeating Canada, Germany, Norway, Hong Kong, and Saudi Arabia.
Speaking at the White House Crypto Summit on March 7, US Secretary of Treasury said Scott Bescent’s Trump administration will be used Stablecoins to expand US dollar’s hegemony And indicated that this would be a top priority for officials in 2025.
https://www.youtube.com/watch?v=FDPMJHTQ5am
According to a 2023 Report From the chainalysis, more than 50% of all digital assets are transferred to countries in the Latin American region, including Argentina, Brazil, Columbia, Mexico, and Venezuela are denominated with Stablecoins.
Low transaction fees, relative stability, and near-instant settlement times for dollars stablecoins make these real-world tokenized assets assets Correct -Renuated for remittances and store value for residents in the development of countries suffering from high inflation and capital controls.
Magazine: Bitcoin payments are weakened by centralized stablecoins
