Stablecoins could power global payments within 10 years: Druckenmiller

The investor said stablecoins are faster, cheaper and more efficient than fiat payments 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 tokens into that — are incredibly useful in terms of productivity,” Druckenmiller said.

Read more