[wtmt]

> Eventually, the Fed itself will start issuing stablecoins and out-legitimize everyone else.

That would be a CBDC (Central Bank Digital Currency), which the current administration doesn’t seem to want. One advantage of such a CBDC would be that central banks of other countries could be persuaded to use them (for cross border payments and transfers), whereas a stable coin issued and managed by a group of banks would likely not have this advantage (not saying never though).

[hocuspocus]

I fail to see what a CBDC and/or Fed sanctioned stablecoins would achieve for entities outside the US that need to transact in USD. It would essentially work the same as today under a new name?

The point of a CBDC is government control over an increased share of the money supply. Pretty irrelevant to USD balances held by other central banks.

The point of a stablecoin for an entity with an American banking license is... nothing?