Federal Reserve Governor Stephen Miran says that stablecoins, digital assets pegged to fiat currency, reinforce the US dollar. Speaking at the Delphi Economic Forum in Athens, Greece, Miran reinforced the bullish stance on the stablecoin as a heavily favored digital asset. Following the passage of the GENIUS Act in the US, digital assets, including cryptocurrencies and stablecoins, have been in the spotlight, and the Fed is also becoming more crypto-friendly.

“I believe that the sweeping deregulation under way in the United States will significantly boost competition, productivity and potential growth, allowing faster economic growth without putting upward pressure on inflation,” Miran said, according to a published text of his remarks. Back in November, Miran raised the view that the widespread adoption of stablecoins will allow the Fed to ease monetary policy. In September, he also argued that lower population growth, falling housing inflation, and a tariff-driven improvement in the budget deficit could all allow the Fed to adopt an easier policy stance.

Stablecoins pegged to the US dollar have seen a stady increase in adoption over the past two years, led by the Tether USDT token. With the backing of the Fed Governor and Genius Act, stablecoins are expecting to continue their meteoric rise in 2026.

In addition to his remarks on stablecoins, Governor Stephen Miran also called for 150 bps interest rate cuts in 2026 to support jobs, saying inflation near 2.3% is close to the target. The Federal Reserve remains divided after 75 bps of cuts.