Eurodollars are U.S. dollars held in time deposit accounts in banks outside the United States.
This term applied to U.S. dollar accounts held in banks situated not just in Europe, but is expanded to all US dollar accounts held anywhere outside the US.
To be clear:, a U.S. dollar-denominated deposit in Dubai or Singapore would be deemed a Eurodollar deposit or as a new term is emerging Off-Shore Dollar.
Market Capitalization = $14 Trillion.
The US government via the GENIUS Act is trying to tap into this market to be replaced by Crypto-Dollar-StableCoins.
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