Federal Reserve Governor Christopher Waller spoke in favor of stablecoins from private sector issuers Monday (Sept. 29), while Bundesbank President Joachim Nagel outlined reasons for caution over the tokens, the Financial Times (FT) reported Monday. Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. “If stablecoins present a lower cost alternative to consumers and businesses, I am all for it,” Waller said during his speech at Sibos. “Therefore, we, as central banks, will not accept any developments that weaken our ability to implement monetary policy effectively,” Nagel said during his speech. In February, it was reported that the ECB was hoping that progress on legislative approval for a digital euro would be spurred by U.S. President Donald Trump’s endorsement of dollar-pegged stablecoins.