LayerZero Labs CEO Bryan Pellegrino argues that stablecoins are a crucial tool for the United States to maintain the US dollar's dominance in global finance. In a Cointelegraph interview, Pellegrino emphasized that dollar-pegged tokens facilitate cross-border transactions, heightening demand for the US dollar, especially in nations facing inflation such as Argentina and Venezuela. He claims that stablecoins represent a significant competitive edge for the dollar in foreign exchange markets. The broad acceptance of stablecoins on the federal and state levels is anticipated to grow due to their positive impact on the US economy. Pellegrino also pointed to Tether's substantial investments in US Treasury bills, highlighting the strong demand for US debt among stablecoin issuers. Additionally, a 2023 Chainalysis report noted that over 50% of digital asset value transferred in Latin America was in stablecoins, underlining their role as valuable assets for those in economies with severe financial constraints.

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