Joseph Wang characterizes a stablecoin as basically a shadow bank or potentially a more efficient form of money market fund that could be more liquid than actual money market fund shares depending on adoption.
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Speaker
Joseph WangEvidence Quote
“So, from what I hear, the description of a stablecoin is basically like a like it's basically like a shadow bank, right? It's like a money market fund. It's it's a maybe a potentially more efficient form of money market fund that, depending on how the adoption is for these stablecoins, could be more liquid than actual money market fund shares.”
Source
The Secret To Maintaining Dollar Dominance | Joseph Wang & Austin Campbell LIVE @ DAS— Forward GuidanceCreated: 8/11/2026, 8:05:39 AM
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