Federal Reserve Governor Waller: Tokenization is becoming a new channel for the circulation of the US dollar

BlockBeats News, June 23rd, Federal Reserve Governor Christopher Waller stated at the Federal Reserve's 5th annual "US Dollar International Role Conference" opening ceremony that this conference aims to gather various viewpoints to discuss the various forces shaping the global status of the US dollar.

Waller pointed out, "This year, we will focus on discussing financial innovation, especially digital assets such as stablecoins, and their impact on the US dollar's international role." He stated that the US dollar's central role in the global financial system is still based on several traditional strengths, including the size and strength of the US economy, deep and liquid financial markets, and market trust in the US system and rule of law.

At the same time, Waller emphasized that the financial environment around these advantages is rapidly changing. With the development of Distributed Ledger Technology (DLT) and tokenized assets, new US dollar intermediaries are emerging, which can operate independently of the traditional banking and payment systems or in collaboration with them.

Waller stated: "Therefore, the international role of the US dollar is also constantly evolving. The private sector is rapidly expanding channels for acquiring US dollar-denominated assets, innovating new financial services, and exploring some business opportunities that may not be achievable under traditional technological conditions."