Paxos CEO: Stablecoins are crucial for the future of the US dollar

In an open letter to the major presidential candidates of the United States, Paxos CEO Charles Cascarilla urged them to adopt stablecoins in order to maintain the global dominance of the dollar and improve the inefficiency of traditional banking systems. The open letter published on October 29th stated that the next presidential administration may decide America's future leadership position in global finance. "Stablecoins or digital dollars (dollars digitized through blockchain technology) are a key upgrade for payment systems, which will completely change money flow, allow more people to participate in the global economy, and ensure the dominant position of US dollars for years to come."