WASHINGTON — A US central bank digital currency could one day coexist with and even complement so-called stablecoins, Federal Reserve vice-chair Lael Brainard plans to tell House lawmakers on 26 May.

“In some future circumstances, CBDC [central bank digital currency] could coexist with and be complementary to stablecoins and commercial bank money by providing a safe central bank liability in the digital financial ecosystem, much like cash currently coexists with commercial bank money,” Brainard is expected to tell lawmakers, according to prepared testimony released by the Fed.