Stable coins are one of the best instrument for the US government of the United States to keep up the hegemony of the US dollar on the worldwide financial markets, in accordance with CEO and founding father of Layerzero Labs and founder Bryan Pellegrino.
In an interview with CoinTelegraph, the CEO of Layerzero Labs, which recently created the Layerzero-Interoperability Protocol chosen by Wyoming because the sales partner for Wyoming StableCoin, said the cross-border accessibility of dollar-packed tokens to take an obvious selection to take an obvious selection. Pellegrino added:
“Stable coins for the US dollar are one of the best tool -the last Trojan horse or vampire attack on every other currency on this planet -whether it’s Argentina, whether it’s Venezuela, whether it’s all countries which have a large inflation.”
The CEO said that he expects stable coins to be supported each on the federal and state level, for the reason that foreign exchange markets of the US dollar award the plain boost stable coin, and the financial ditch StableCoin-controlled demand will create around the worldwide reserve currency status of the US dollars.
Stablecoin market overview. Source: rwa.xyz
The US government looks like stable coins to guard the US dollar
Pellegrino cited Tether's emerging role as one among the biggest buyers of US financing calculations on this planet as proof of the demand for US debt instruments from StableCoin issuers.
Tether recently became probably the most seventh holder of US state bonds and excluded Canada, Germany, Norway, Hong Kong and Saudi Arabia.
The US Finance Minister Scott Bessent said on March 7 on March 7 on the crypto summit of the White House that the Trump government would use stable coins to increase the US dollar hegemony and stated that this is able to be a top priority for civil servants.
https://www.youtube.com/watch?v=fdpmjhtq5am
According to a report from 2023 from the chain of Chainalysis, greater than 50% of the digital wealth value within the Latin American region, including Argentina, Brazil, Columbia, Mexico and Venezuela, were more in stable coins.
The low transaction fees, the relative stability and the just about instantated settlement times for stable coins packed in dollars, make these real-world-toked assets ideal for transfers and value storage for residents in developing countries that suffer from high inflation and capital controls.
