The world economy has demonstrated a huge demand for dollars. They are used for transactions, and as a store of value. Dollars are also in high demand for loans, because (until recently) the US Fed has demonstrated a willingness to supply dollars when needed to repay loans. A "eurodollar" market satisfies this demand for participants without US bank accounts. Estimates of eurodollar assets range from $5T to $10T. We see stablecoins as a more advanced platform for Eurodollar transactions, bringing advantages in settlement speed and convenience, automation, and transparency.