According to the source, Federal Reserve Governor Christopher Waller said crypto stablecoins introduce competition in payments, signaling official attention to their role in the US payments stack, source: public X post dated Nov 6, 2025. Traders should track USDT and USDC market share, PYUSD supply changes, and on-chain stablecoin transfer volume to gauge payment-rail adoption momentum, source: Tether transparency page, Circle disclosures, PayPal stablecoin updates, and on-chain explorers. Monitor USD pairs liquidity, stablecoin funding rates, and basis on major exchanges for near-term flow shifts around policy commentary headlines, source: derivatives and funding data published by major exchanges.