Former World Bank president David Malpass has called on the United States to spearhead stablecoin innovation by establishing clear regulatory frameworks. Malpass emphasized the potential of stablecoins to lower transaction costs and enhance trade efficiency. He also warned that Europe and China are making swift advancements in this area. Malpass expressed support for Federal Reserve Governor Chris Waller's proposal to introduce limited master accounts, which could decrease dependence on traditional banking intermediaries. This move is seen as crucial for the U.S. to maintain a competitive edge in the rapidly evolving digital currency landscape.