In the AI Era, Stablecoins Strengthen Dollar Dominance

The ASEAN+3 Macroeconomic Research Office (AMRO) has projected that if AI infrastructure is built around the US dollar, dollar-pegged stablecoins will become a key payment method in the AI economy. If the resources and service costs required for operating AI data centers are priced in dollars, global demand for dollars is expected to increase significantly. AMRO analyzes that the proliferation of AI agents will promote the growth of dollar-based stablecoins, and as AI automates corporate tasks, the 'agent economy' is likely to become widespread. Stablecoins can be utilized as programmable payment methods, and the use of AI services can create a virtuous cycle that expands dollar-based payments. AMRO assesses that stablecoins hold a favorable position in the global digital asset market, while central bank digital currencies (CBDCs) are still in the early stages of commercialization. The spread of stablecoins is expected to have a positive impact on the US financial market, and ASEAN+3 countries are advised to develop strategies to reduce their dependence on the dollar in the AI economy.