Former World Bank President Advocates for U.S. Leadership in Stablecoin Innovation
David Malpass, former president of the World Bank, has urged the United States to assert dominance in stablecoin development amid intensifying global competition. Speaking at the ACI’s Payments Unleashed Summit, Malpass framed stablecoins as a pivotal innovation for trade and financial systems.
The U.S. risks falling behind Europe and China, which are aggressively advancing their stablecoin frameworks. Malpass endorsed Federal Reserve Governor Chris Waller’s proposal for limited master accounts, arguing it could clarify regulations and strengthen the dollar’s role in digital finance.
Stablecoins have emerged as a geopolitical battleground, with major economies integrating them into monetary strategies. Without decisive action, the U.S. may cede ground in shaping the future of cross-border payments and digital asset infrastructure.
