BoE Official: Stablecoin Growth Could Strengthen Dollar Dominance, Boost US Treasury Demand
Bank of England Financial Policy Committee member Carolyn Wilkins warned Tuesday that the rapid growth of dollar-denominated stablecoins could further entrench the U.S. dollar’s global dominance while creating new channels of financial volatility. Speaking at Queen’s University Belfast, Wilkins outlined how stablecoins pegged to the greenback simplify cross-border settlement, expand international access to dollar-linked assets, ...