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The Biden administration is “going to be focused on infrastructure changes that make America more competitive, and this is absolutely going to be a core building block in that,” said Allaire during the interview.  

Speaking about stablecoins and whether a central bank issued digital currency (CBDC) could crowd out private stablecoins like the USDC stablecoin, Allaire said that while central banks have been researching CBDCs, private fintech platforms have taken the lead in implementing existing stablecoins as a way to move money. 

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