In a commentary published by the Official Monetary and Financial Institutions Forum (OMFIF), Tony McLaughlin makes the case that countries worldwide have an opportunity to strengthen their positions as financial centres by establishing themselves as hubs for stablecoin transactions.
The article examines how national governments can approach stablecoins as strategic infrastructure rather than a regulatory problem to be contained. It explores the economic benefits of stablecoin adoption for sovereign funding, financial sector revenue, and currency internationalisation.