Hammack: Smart Contracts and AI Agents Could Boost Stablecoin Demand, Regulatory Uncertainty May Slow Adoption

Cleveland Fed President Beth M. Hammack discussed reserve currencies and stablecoins in a speech in Zurich, Switzerland, on November 5, 2026. According to Foresight News, she said stablecoins may have technical advantages over traditional payment methods, including support for smart contracts and workflows carried out by AI agents, which could increase stablecoin demand and, in turn, demand for dollar assets. Hammack said U.S. regulations do not directly address the use of smart contracts or AI agents in payments, and the lack of a clear regulatory framework could slow adoption by U.S. financial institutions.