The Stable Coin Is the Alternative to the Fed's Balance Sheet

Stable coin could fill that roll, that nich if there's a demand for something like that. So it would be done through retail. The fed seems very reluctant to go down that path. There are also issues about counterfeit money floating around from neighbouring countries. In some countries there is so much fat of deposits in the system that disintertation may actually be healthier. If sevirisi picks up this, then you can mort senorage, which is very welcome in many poor or middle income countries.

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