July 6, 2020 Lawrence Summers, former US Treasury Secretary predicts further stablecoin innovation.

Lawrence Summers, the former US Treasury Secretary predicted further stablecoin innovation during an interview with Jeremy Allaire, CEO of the stablecoin issuer, Circle. The ex-government official went on to say that this innovation will likely facilitate easier cross-border exchange. Despite the optimistic comments regarding innovation, Summers qualified the statement, predicting that a global digital currency is still many years from fruition.