For example, a global U.S. dollar stablecoin network could encourage use of the dollar by making cross-border payments faster and cheaper, and it potentially could be deployed much faster and with fewer downsides than a CBDC.
Credit should also be given to our microfinance institutions including banks and NGOs who took advantage of this enabling regulatory environment to magnify their outreach. They are the ones directly catalyzing change on the ground – in small businesses, in poor households.