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Stablecoins: A Potential Counter to De-Dollarization

Demand for dollars in the global economy is increasingly flowing into permissionless stablecoins, even as domestic policies and foreign efforts like a BRICS-issued currency could erode the greenback's overall dominance.

a panoramic photo of a city (Joshua Rawson-Harris/Unsplash)
Stablecoins, which offer alternatives ways to access U.S. dollars, could help sure up the greenback's dominance, Moody's Yiannis Giokas writes. (Joshua Rawson-Harris/Unsplash, modified by CoinDesk)