Why not rely only on central bank digital currencies (CBDCs)?

[kevin1]

While CBDCs are powerful tools, they are often slow to design, politically sensitive, and limited in functionality. Stablecoins offer a faster, market-driven complement, allowing private-sector innovation under public oversight rather than requiring governments to build everything themselves.

Many countries see stablecoins as a practical middle ground: they leverage existing blockchain ecosystems while maintaining regulatory control. Together with CBDCs, stablecoins can form a layered digital money system that is more resilient, flexible, and globally interoperable.

[etfs]

oversight + private innovation is probably the only way this scales