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The US Considers Promoting USD-Pegged Stablecoins Globally to Increase Demand for Treasury Bonds
The US government is considering promoting the use of USD-pegged stablecoins in foreign markets, thereby strengthening the position of the USD as the world’s leading reserve currency and creating additional demand for US Treasury bonds.
According to Bloomberg, some US officials are considering options to support projects related to stablecoins through joint ventures with private sector companies. In this process, the US Treasury Department, the US State Department, and the US International Development Finance Corporation (DFC) may play a role.
This idea stems from the growing role of stablecoins in the digital payment system. Most major stablecoins on the market are currently pegged to the USD and backed by highly liquid assets, including US Treasury bonds. As the demand for USD stablecoins increases, the amount of reserve assets needed to support these tokens may also rise, thereby creating additional demand for US government bonds.
This is particularly noteworthy as Washington seeks new ways to maintain the strength of the USD in the global financial system. Stablecoins can expand USD access to markets where traditional banking systems or USD financial services are not yet well-developed.
If implemented, this policy could make stablecoins a part of the strategy to promote the international role of the USD, rather than just being seen as a product serving the crypto market. Supported projects could focus on cross-border payments, international remittances, or building financial infrastructure using USD stablecoins.
This move is also directly related to the US Treasury bond market. Stablecoin issuers typically maintain large reserves of assets to ensure the ability to convert tokens back to USD. As the circulation scale of stablecoins increases, the demand for holding corresponding reserve assets may also expand.
