An open letter from Paxos CEO Charles Cascarilla to leading US presidential candidates, urging them to adopt stablecoins to maintain the global dominance of the US dollar and improve the inefficiencies of the traditional banking system. The next presidential administration is likely to determine the future leadership of the US in the global financial industry, wrote an open letter published on October 29. "Stablecoins or digital dollars (dollars digitized through blockchain technology) are a key upgrade to the payment system that will revolutionise the flow of money, allow more people to participate in the global economy and ensure the supremacy of the US dollar for years to come."