US Billionaire Backs Stablecoins To Take Over Payment Systems – Details
American billionaire and investor Stanley Druckenmiller has postulated that stablecoins will play a central role in the US payments system in the next decade. However, the philanthropist and former hedge fund manager remains skeptical about regular cryptocurrency. Related Reading: Trump Memecoin Dangles Mar-A-Lago Access As Token Price Spikes 34% Stablecoins Drive Productivity, Druckenmiller Says In […]
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While Visa and other major private payments networks see the potential of stablecoins, China's central bank believes they pose serious risks to global financial systems. The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official.Fan Yifei, a deputy governor of the People’s Bank of China (PBoC), expressed concerns over the reportedly serious threat stablecoins like Tether (USDT) pose to global financial and settlement systems, CNBC reported Thursday.The official emphasized that the....
France’s Finance Minister Roland Lescure has called for the development of more Euro-pegged stablecoins. This comes amid rising tensions between the European Union and the US, as the EU seeks to weaken US dominance over its payment systems. Related Reading: Crypto Shockwave: Circle Sued As $280 Million Drift Hack Unravels Euro-Stablecoins: Europe’s Push For Financial […]
Millionaire businessman Kevin O’Leary has indicated that stablecoins are more valuable than Bitcoin because of their role in the global financial system. He also highlighted the “big opportunity” as one of the layer-1 networks could be the biggest beneficiary of traditional finance (TradFi) firms moving on-chain. Kevin O’Leary Praises Stablecoins Over Bitcoin In an X post, Kevin O’Leary shared a FOX interview in which he praised stablecoins over Bitcoin. He described BTC as a speculative asset whose price fluctuates due to its volatility. Meanwhile, the businessman called stablecoins an....
The BIS General Manager has said that existing stablecoins fall short of the requirements for a widely accepted and used payment instrument. Stablecoins Remain A “Niche” Payment Instrument Pablo Hernández de Cos, General Manager at the Bank for International Settlements (BIS), spoke on the topic of stablecoins at a Bank of Japan seminar in Tokyo […]
Ethereum investor Stanley Druckenmiller has added his voice to the growing conversation around the future of digital finance, predicting that stablecoins could become the dominant force in global payment systems within the next few years. The veteran investor’s outlook reflects a broader shift among institutions and market participants toward viewing blockchain-based money as a critical financial infrastructure. Why Stablecoins Could Replace Traditional Payment Rails Stanley Druckenmiller, a prominent investor with exposure to Ethereum, is increasingly aligning his investment positioning....