Stablecoins Unlock New Pathways of Economic Growth and Trade, says David Malpass at ACI’s Payments Unleashed Summit
ACI Worldwide, Inc. (ACIW)
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Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Stablecoins will likely play a pivotal role in advancing global financial infrastructure and economic growth, said David Malpass, former president of the World Bank, in a keynote address at the Payments Unleashed summit in New York City.Malpass described stablecoins as a “foundational element in bridging conventional banking and payment systems with emerging digital financial technologies."He emphasized the necessity of robust regulatory frameworks to ensure the integrity, interoperability, and public trust in stablecoin adoption.“Stablecoins can expand domestic commerce as well as international trade and cross-border payments. They offer lower transaction costs, real time settlement, and relief from the regulatory and devaluation costs that block development, with potential benefits for hundreds of millions of people,” said Malpass. “But we need clear regulatory frameworks to ensure stablecoins are secure, interoperable, and trusted by institutions and
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