According to Cointelegraph, stablecoins are considered a crucial tool for the United States government to uphold the US dollar's supremacy in global financial markets. Bryan Pellegrino, CEO and founder of LayerZero Labs, emphasized the strategic importance of dollar-pegged tokens in an interview. LayerZero Labs, known for its LayerZero interoperability protocol, was recently selected by Wyoming as the distribution partner for the state's stablecoin initiative. Pellegrino highlighted the cross-border accessibility of stablecoins as a significant factor driving demand for the US dollar, describing them as a powerful mechanism to influence other currencies worldwide, particularly in countries experiencing high inflation like Argentina and Venezuela
source: https://www.binance.com/en/square/post/22566715449514?utm_source=BinanceNewsRSS