Federal Reserve governor Lael Brainard on Wednesday downplayed the risk that cryptocurrencies backed by foreign governments could pose to the U.S.’ prominent role in the global financial system.

“I think the role of the dollar as the world’s reserve currency is very strong,” Brainard said when asked about the topic at an event on the payments system hosted by the Federal Reserve Bank of Chicago. “There are a whole host of factors that will continue to make the dollar an important reserve currency, really for the world.”