Federal Reserve Governor Chris Waller has said that stablecoins and public blockchains could cut cross-border payment costs and improve efficiency.
Chris Waller Says Stablecoins Can Streamline Cross-Border Payments and Reduce Costs
During his Sibos 2025 keynote address in Frankfurt, Chris Waller endorsed the potential of public blockchains and stablecoins in transforming global finance. His remarks reflect a growing recognition inside U.S. monetary policy circles that blockchain technology can cut costs in cross-border payments.
Waller explained that customers increasingly prefer to transact on public blockchains when the costs are lower and the systems remain secure. He highlighted stablecoins as one of the clearest opportunities to reduce payment expenses.
“If stablecoins present a lower cost alternative to consumers and businesses, I’m all for it,” Chris Waller said. The Federal Reserve has also announced plans to host a Payments Innovation Conference focused on stablecoins. This move underlines the central bank’s growing interest in the sector
The Fed official emphasized that cross-border payments remain slow and expensive, especially in regions where access to U.S. banking is limited. Remittances, he noted, are particularly costly because they require multiple currencies, infrastructures, and intermediaries. A blockchain solution is capable of reducing most of these steps, accelerating settlement and lowering fees.
The concept of DLT was also discussed by Chris Waller. According to him, DLT is a fast-evolving system that enables 24/7 transactions, records and data. It allows numerous parties or systems to collaborate and operate with less friction across financial ecosystems.
Smart Contracts and Stablecoins Demonstrate the Importance of Blockchain in World Finance
Chris Waller said that smart contracts help with efficiency. According to him, they allow individuals to automate how they resolve complicated transactions. This makes real-time payments cheaper, more adaptable and simpler.
Regulators are also adapting. Recently, the CFTC launched a stablecoin collateral initiative for U.S. derivatives. Its decision underscores how digital assets are entering mainstream financial structures.
His words proves that there’s a shift in the Federal Reserve position regarding cryptocurrencies. The central bank has previously warned residents not to own these digital assets. He stressed that efficiency gains, not speculation, are the most promising aspect of blockchain innovation.
The Chris Waller speech comes as stablecoin usage grows outside the United States, especially in regions where dollar access through banks is costly. Waller reveals how digital assets can help fill in the gaps in financial accessibility.
Source: https://coingape.com/fed-governor-chris-waller-champions-stablecoins-as-a-tool-for-cheaper-global-payments/
