Federal Reserve Governor Christopher Waller: Stablecoin is the "new private money"

The Governor of the Federal Reserve of America (Fed) Christopher Waller at the Sibos 2025 event stated that the central bank is directly researching new technologies such as tokenization, smart contracts, and artificial intelligence in the payment sector.

Mr. Waller called for recognizing stablecoins as a continuation of America's traditional payment innovation, viewing them as “a new form of private money” that can coexist with the current system if there is a strict oversight framework.

Christopher WallerAccording to him, stablecoins can enhance competition, reduce costs, speed up processing, and improve user experience, especially in cross-border payments that are still complicated and expensive.

However, Waller emphasized the risks of cybersecurity and systemic danger, asserting that new technology can only succeed if accompanied by common standards and comprehensive risk management.