Stablecoins could form backbone of global payments in 10 years: Billionaire

Stanley Druckenmiller said stablecoins are more efficient, faster and cheaper than fiat running on traditional banking infrastructure.

Billionaire investor Stanley Druckenmiller said blockchain and stablecoins may only be a decade away from powering the global payments system — though he isn’t sold on the idea of crypto functioning as a store of value.

In an interview with Morgan Stanley recorded on Jan. 30 and released on Friday, the former hedge fund manager said blockchain-based tokens — particularly stablecoins — boost productivity in the payments space:

“Blockchain and the use of stablecoins, if you want to throw crypto into that, tokens, incredibly useful in terms of productivity,” Druckenmiller said.

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