BlackRock Inc's chief executive, Larry Fink, said on Thursday that the Russia-Ukraine war could end up accelerating digital currencies as a tool to settle international transactions, as the conflict upends the globalization drive of the last three decades.
In
a letter to the shareholders of the world's largest asset manager, Fink
said the war will push countries to reassess currency dependencies, and
that BlackRock was studying digital currencies and stablecoins due to
increased client interest.
"A
global digital payment system, thoughtfully designed, can enhance the
settlement of international transactions while reducing the risk of
money laundering and corruption", he said.
That
appeared to strike a different tone from May of last year, when Fink
raised some concerns around volatility and said it was too early to
determine whether cryptocurrencies were just a speculative trading tool.
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Reuters
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