The U.S. dollar's status as the world's reserve currency is a significant aspect of America's power, which is maintained through military presence and economic dominance.

The U.S. is exporting inflation globally, which is causing prices to rise domestically while the value of the dollar decreases, impacting American citizens directly.

Stablecoins track the value of the US dollar, allowing for dollar-denominated trading while introducing risks such as fraud, censorship, and volatility.

In lower-income or high-inflation countries, people want to hold stablecoins directly and use them for payments. We need to create a user-friendly experience that integrates stablecoins into existing systems, similar to how Skype allowed users to call landlines from their computers.

For stablecoins to gain mainstream adoption, consumers need assurance that one USDC or one PIUSD will always equal one dollar, even in the largest and most complex scenarios.

The U.S. dollar's dominance is America's greatest power, not military might; it allows the U.S. to exert influence globally, even over those who do not directly engage with American products.

The current debate among G7 countries about keeping currencies within a narrow band reflects a struggle between maintaining economic stability and US interests in controlling fiscal policies.

The U.S. payment system is generally efficient, but there are inefficiencies in cross-border transactions that need to be addressed, particularly with real-time payment systems.

I believe that the currency we use is a huge part of the answer to increasing access to the economy.