Economist Nouriel Roubini, long a prominent crypto critic, has endorsed a new tokenized reserve asset called 'Technodollar' through USAFi, launched by Atlas Capital Team in Dubai. On the Expert Council podcast, Roubini argued that stablecoins, while useful for payments, fail to protect against inflation and debasement risks inherent in fiat currencies. He proposed that the next global reserve asset should be tied to US productive assets like technology, AI, defense, and semiconductors. USAFi is a permissionless ERC-20 token fully collateralized by the Atlas America Fund, an SEC-registered ETF (ticker: USAF) custodied at BNY Mellon. The initiative aims to create a reserve asset that hedges against inflation and macro stress, moving beyond the petrodollar system. Roubini chairs the investment committee, which uses machine learning for risk management. The token is issued under Dubai's VARA framework and partnered with Securitize for on-chain distribution. Roubini's involvement marks a significant pivot from his earlier stance, as he now advocates for digital assets backed by real economic value rather than fiat replicas.

Key facts

• Nouriel Roubini declares 'death of petrodollar,' backs tokenized 'Technodollar' via USAFi.
• USAFi is an ERC-20 token collateralized by an SEC-registered ETF (USAF) custodied at BNY Mellon.
• Roubini argues stablecoins don't hedge against inflation; they replicate fiat weaknesses.
• Atlas Capital launched USAFi in Dubai under VARA's Asset-Referenced Virtual Asset framework.
• Token is designed as on-chain collateral for DeFi, using machine learning for risk management.

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